An African-American-owned bank with just $160 million of assets has taken the unusual step of launching its own mutual fund.

Liberty Bank and Trust Co. of New Orleans unveiled the Liberty Freedom Fund last week. The fund, which began trading Monday, invests in large- capitalization companies chosen from among the Standard & Poor's 500.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.