Pekin Singer Strauss Asset Management, investment advisor to Appleseed Fund (NASDAQ: APPLX, APPIX), today announced senior executive changes, effective June 30, 2014, as part of its long-term leadership succession plan.
Ronald L. Strauss, 74, and Rick Singer, 68, will retire from the five-person Appleseed Fund portfolio management team but will continue to play active roles as senior advisors to the firm and the Fund. Adam Strauss, Bill Pekin, and Josh Strauss will continue operating as Appleseed Fund’s portfolio managers.
“Ron and Rick have cultivated a deeply rooted investment culture at our firm,” said Josh Strauss. He further said, “The continuing managers of Appleseed Fund, Adam Strauss, Bill Pekin and I, will maintain our approach to making prudent, disciplined and sustainable investments, focusing on long-term capital preservation as our primary investment goal. We are pleased that Ron and Rick have agreed to remain senior advisors to our firm and to Appleseed Fund for the foreseeable future.”
As part of the investment advisor’s orderly succession process, Adam Strauss, 44, and Josh Strauss, 41, will become Co-CEOs of the firm, and Bill Pekin, 43, will become Chairman of the Board.
Pekin Singer Strauss Asset Management also announced the appointment of Patrick Herrington, 40, who will join the firm as Chief Operating Officer (COO) and Chief Compliance Officer (CCO) at the end of April. In his CCO role, Herrington will succeed Bill Schmidle, who will continue as the firm’s Chief Financial Officer. At Northern Trust, Herrington most recently served as the COO and Senior Vice President of the Multi-Manager Investment Solutions division, an investment management business with over $80 billion in assets under management and advisement.
“Patrick brings 17 years of financial services industry experience with a focus on operations management, compliance, project and program management, and financial and management reporting,” said Bill Pekin. He continued, “His addition underscores our firm’s commitment to further developing our compliance and operational infrastructure.”
About Appleseed Fund
Appleseed Fund is a mutual fund with more than $300 million under management that seeks to generate market-beating returns by making prudent, disciplined, and sustainable investments in a variety of asset classes around the world. The Fund is managed by Pekin Singer Strauss, a Chicago-based value-oriented investment firm established in 1990. For more information, visit www.appleseedfund.com.
You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund’s prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Fund’s prospectus by calling 1‐800‐470‐1029. Distributed by Unified Financial Securities, Inc., 2960 North Meridian Street, Suite 300, Indianapolis, IN 46208. (Member FINRA)
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