Illington Fund Management LLC said Friday that it had started the first mutual fund managed by Hugh Johnson, a nationally recognized investment strategist.
Mr. Johnson previously only managed investments for private and institutional investors in separately managed accounts. Last February Illington, joined by the employees of FA Asset Management Inc., bought FA Asset Management from First Albany Cos. Inc. and renamed it Johnson Illington Advisors LLC.
The portfolio managed by Mr. Johnson, which will be available for a $1,000 minimum investment, will be part of the Illington Funds, a mutual fund family focused on tactical asset allocation portfolios. Mr. Johnson's fund will be offered with the up-front load waived on Class A shares until Feb. 28.
Illington Fund Management, which is based in Pleasantville, N.Y., has $800 million of assets under management and $900 million more under advisement.
