Rick Gonsalves and his team just launched the AmericaFirst Large Cap Share Buyback Fund, the sixth fund for Roseville, CA-based AmericaFirst Capital Management.

Rick Gonsalves AmericaFirst Capital Management President and CEO

In an effort to keep his firm on top of a changing distribution landscape, Gonsalves wants to hire third-party marketers who can handle AmericaFirst's wholesaling efforts.

Launched on February 1, the fund marks the first long-only strategy for the firm, investing in large companies that pass a certain buyback threshold and using fundamentals to verify that the share buybacks are happening for the right reasons.

As Gonsalves, who serves as president, CEO, and portfolio manager, puts it, "If a company is confident enough to buy its own stock, why shouldn't we?"

In addition to beefing up distro support, he's also considering growth through product expansion into UITs, a space where the firm has had success in the past. SMAs could be another option, as he's had advisors requesting the mutual fund strategies in separate account format.

Founded in 2007 by Gonsalves, the privately-held boutique shop specializes in unemotional, rules-based investment strategies that use back-tested measurements when selecting securities. The firm manages around $100 million in assets across its suite of funds. The firm has four full-time employees: Rick Gonsalves, his father Larry Gonsalves, Robert Clark, and Michael Baumbach.  

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