Walnut Creek, California-based Midanek/Pak Advisors launched an Ultrashort Duration Fund on October 1.

Jim Midanek, chief investment officer of Midanek/Pak Advisors, will lead the investment of the fund.

The fund manager aims to outperform the returns of money market funds by investing the fund's portfolio in at least 50 percent government securities. The average effective duration of investments will not be greater than one year.

M/P Advisors will distribute the fund through independent advisors. 

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