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B Riley Asset Management launches mutual fund


B Riley Asset Management (BRAM) has launched the B Riley Diversified Equity Fund.

BRAM is an affiliate of Los Angeles based B Riley & Co, a FINRA-registered broker dealer.
"The creation of B Riley Asset Management is a natural progression in the growth of our company and will provide unique opportunities to further leverage our existing infrastructure and resources," says Bryant Riley, founder of B Riley's research department.
The B Riley Diversified Equity Fund is an open-end mutual fund which will attempt to mirror the performance of the B Riley Diversified Equity Composite. The Composite is an equal-weighted index of stocks calculated by Bloomberg Indexes. 
It was created by the B Riley research department to measure performance. Each company designated with a "Buy" rating by B Riley & Co's research analysts is included in the Composite.
Chuck Hastings, a managing director at B Riley Asset Management, will act as the portfolio manager of the fund and is responsible for the day-to-day investment management.

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