Convergence Long/Short Equity Fund Institutional Class
MARNX
NASDAQ Global Market- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- Trust for Professional Mgrs (Convergnce)
- IPO Date
- Jan 2, 2019
- CIK
- 0001141819
- Similar Companies
- Business
- Convergence Long/Short Equity Fund Institutional Class (MARNX) is an open-end mutual fund that seeks long-term capital growth by investing at least 80% of its net assets in long and short positions in equity securities of domestic companies, primarily those with medium and large market capitalizations, though positions may include companies of any size. The fund employs a proprietary fundamental ranking process to select long positions in securities expected to outperform the market and short positions in those anticipated to underperform, targeting reduced volatility relative to broader equity benchmarks such as the Russell 3000 Index; its portfolio typically features 90%-150% long exposure and 20%-70% short exposure with monthly rebalancing. Managed by Convergence Investment Partners, LLC, an active equity manager founded in 2005 and headquartered at 3801 PGA Blvd., Suite 1001, Palm Beach Gardens, Florida, the fund serves institutional and high-net-worth investors through separately managed accounts and related strategies. Core offerings of Convergence Investment Partners include the long/short equity composite strategy mirrored in MARNX, alongside complementary U.S. equity products such as dividend growth, large-cap indexing, and active tax-managed strategies focused on dividend-paying growth stocks; these utilize quantitative, technical, and fundamental analysis supported by in-house research and advanced technology for risk management and alpha generation. The firm, a subsidiary of Nile Capital Group, LLC following a majority stake acquisition from Montage Investments in 2018, manages approximately $233.5 million in assets across 349 accounts as of recent filings, with operations centered in the United States targeting institutions, corporations, and individuals. In a major strategic shift, the fund transitioned from its mutual fund structure (MARNX) to an exchange-traded fund format as the Convergence Long/Short Equity ETF (ticker: CLSE), listing on the Cboe BZX Exchange on February 22, 2022, with approximately $26.5 million in assets at conversion to enhance liquidity and accessibility while maintaining the same investment objective and process. This conversion represents the most significant recent operational change, enabling greater return potential through dynamic stock picking across market cycles without altering the fundamental systematic approach. No additional major acquisitions, partnerships, funding rounds, or product launches have been reported for Convergence Investment Partners in the last 1-2 years.