Products June 1, 2004
Capstone Unveils ESOP Fund
January 30, 2002 (PLANSPONSOR.com) - As controversy
continues to swirl around the proper role of company stock in
retirement plans, a Houston fund manager unveiled a fund
investing in US firms with broad-based employee stock
ownership programs.
Reported by Fred Schneyer
Capstone Asset Management Company said in a press release that the new fund, Capstone Employee Stock Ownership Fund, would seek long-term capital appreciation.
Target companies will have stock purchase, stock bonus, or stock option plans available to 50% or more of their employees.
The fund will normally hold 60 to 80 stocks from various sectors of the market, the company said.
According to the Capstone statement, studies of employee stock ownership by various researchers over the past ten years showed that improved corporate operating performance might translate over time into improved stock market performance as well.