Mutual Fund Startup Consulting 

Thomas Kirchner launched the Pennsylvania Avenue Funds in 2003 and runs it at a breakeven point that is a fraction of the asset requirements of the large mutual fund groups. He focuses on keeping cash burn rates low. Read about the rudimentary early days in Kiplinger Magazine.

Why start a fund?

Financial advisers managing a large number of separate accounts for customer will find that a mutual fund can streamline many operational and logistical problems of separate accounts. In addition, a mutual fund can help advisers lower their minimum assets requirement, retain clients and gain additional customers.

We can help 

We advise experienced financial professional looking to establish a mutual fund on the organizational and business aspects of

• Choosing a structure for the fund

• Turnkey solutions (master trust) vs. establishment of a new entity

• Match fund structure with investment objective and your infrastructure

• Tax considerations

• Choice of service providers

• Transfer agent

• Daily NAV accounting

• Auditors

• Legal counsel

• Distribution

• Mutual funds with alternative / absolute return strategies

• Short selling

• Leverage

• Derivatives

• Running the fund

• Board of directors

• Ongoing filings and regulatory oversight

• Compliance requirements

• Selling the fund

• How to get on distribution platforms 

• Wirehouses vs. discount brokers, supermarkets. Direct selling.

• How to get a ticker and Morningstar rating

• Economics of starting a fund

• Startup costs

• Ongoing costs

• Does it make sense?

Thomas Kirchner is also available to speak to industry groups about his fund experience starting a fund, and how you can do it.

We do not give legal advice.