Professionally Managed announces plans for Global Growth Fund

By Toni Weeks

San Diego, Dec. 19 - Professionally Managed Portfolios said it is planning to launch a new fund, the DSM Global Growth Fund, according to an N-1A filing with the Securities and Exchange Commission.

The fund will seek long-term capital appreciation by investing primarily in equity securities of large capitalization companies but may also invest up to 40% of its net assets in equity securities of companies with a market capitalization that is considered lower than large cap.

The portfolio managers will be Daniel Strickberger and Stephen Memishian.

The fund's shareholder fees consist only of a 1% redemption fee assessed on the amounts redeemed within 30 days of purchase.

Management fees will be 0.9%. The adviser has agreed to limit its fees and to pay fund expenses in order to keep the total annual operating expenses to 1.2% through Feb. 28, 2013. The agreement does not include acquired fund fees and expenses. As a result, the total annual fund operating expenses will be 1.21%.

The initial announcement was for institutional class shares.

The fund's investment adviser will be Mount Kisco, N.Y.-based DSM Capital Partners LLC.

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