Back Porch Vista Acquires Skyview
Tennessee Firm Extends Reach to Now Include New York City Area
By: BPV Capital Management
“It’s a perfect fit,” says Mike West, Senior Partner and CEO. “We’re growing rapidly thanks to our marketing and distribution expertise. However, now we have the opportunity to really build out our investment capacity. To achieve our strategic growth plan, we need more people who analyze and think the way we do, and the team at Skyview does just that.”
Back Porch Vista’s New Jersey team is comprised of six seasoned investing professionals led by Steven J. Turi, who will be taking on the role of Chief Investment Officer. In addition, industry veteran Andrew Melnick will serve as BPV’s new Chief Investment Strategist, responsible for R&D and market insights.
“It helps to have a presence where the investors are,” said Steve Turi, BPV CIO. “But more than that, BPV has built great infrastructure. They’ve truly learned to take advantage of the distribution and marketing systems that are available. With our knowledge of manager research, portfolio analysis, asset allocation, and risk management, and BPV’s distribution expertise, we are excited about the opportunity ahead.”
“Steve and his team have done great work and are well regarded around the nation,” said West. “This is really a case where we can help each other. Most importantly, by working together we can further our goal of providing access to investments typically outside the reach of the average investor. That, ultimately, is the reason for this acquisition.”
The two teams start working together at a time of unprecedented growth and achievement at BPV. Not only has there been substantial growth in assets under management, but the BPV Wealth Preservation Fund (BPVPX) was recently given a four star rating by Morningstar. The fund was rated 4-Stars for the Overall and 3 Year periods ended October 31, 2014 out of 104 funds in the Market Neutral category. The Fund’s rankings were based on its overall risk-adjusted performance over the three-year period.
The deal has already been finalized and the changeover to the BPV brand is underway at Skyview. Terms of the acquisition were not disclosed.
BPV ("Back Porch Vista) is focused on helping American families retire well. The BPV Family of Funds includes the BPV Core Diversification Fund (BPVDX), the BPV Wealth Preservation Fund (BPVPX), the BPV Low Volatility Fund (BPVLX), and the BPV Large Cap Value Fund (BPVAX). The funds provide a range of potential solutions that apply a more conservative approach to time-tested investment principles.
For further information on BPV Capital Management and the BPV Family of Funds, please see www.backporchvista.com and www.bpvfunds.com.
An investor should consider investment objectives, risks, charges, and expenses carefully before investing. Request a prospectus which contains this and other information by calling toll free (855) 784-2399 or visiting www.bpvfunds.com. Read the prospectus carefully before investing or sending money.
The BPV funds are distributed by Ultimus Fund Distributors, LLC. Ultimus Fund Distributors, LLC. is not affiliated with BPV Capital Management.
Morningstar Ratings are based on risk-adjusted returns. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with a Fund’s 3-, 5-, and 10-year Morningstar Rating metrics. For each U.S.-domiciled Fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a Fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of Funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one Fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)
Important Risk Disclosure for the BPV Wealth Preservation Fund
Mutual fund investing involves risk. Principal loss is possible. ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance. Diversification does not eliminate the risk of experiencing investment losses. There is no assurance that this investment strategy will consistently lead to successful investing.
Foreign investing involves special risks such as currency fluctuations and political uncertainty. Investments in ETFs and other registered investment companies subject the Fund to paying its proportionate share of those funds’ fees and expenses.
The Fund’s use of options involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. By investing in options, the Fund is subject to the risk of counterparty default, as well as the potential for unlimited loss.
Fixed income investments are subject to credit risk, which is the risk that a specific issuer of a fixed income security may default on its obligations to security holders.
An economic downturn or an increase in interest rates may have a negative or adverse effect on an issuer’s ability to timely make payments of principal and interest. Increases in interest rates typically lower the present value of a company’s future earnings stream. Accordingly, bond prices will generally decline when investors anticipate or experience rising interest rates.