The American College of Surgeons is a step closer to launching its first fund offering, after filing a registration statement with the Securities and Exchange Commission last week.

The Surgeons Diversified Investment Fund, which will be run by Surgeons Asset Management, will invest up to 100 percent of net assets in exchange traded funds, according to the filing dated May 5. The no-load fund will carry net annual operating expenses of 1.35 percent.

In an interview with the MFWire in January, Gay Vincent, the organization's comptroller, said the American College of Surgeons plans to launch the fund in October. She said the college is embarking on the initiative in response to "a need expressed by our members."

Only the members of the college, their families, employees, affiliated retirement plans and physician practices groups may acquire shares of the fund. The Chicago-based college counts over 70,000 members, making it the largest organization of surgeons in the world.

New York-based Carpenter Group has been hired by the college to develop a communication and marketing strategy for the fund. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE