- Business
- RMB Mendon Financial Services Fund (RMBKX) is an open-end mutual fund that seeks capital appreciation by investing at least 80% of its net assets in stocks of U.S. companies in the financial services sector; it primarily targets small-capitalization stocks but may invest across all company sizes, with a focus on firms exhibiting strong management, sound financial practices, defensible business niches, sustainable growth in earnings, revenue and cash flow, and undervalued equities with merger and acquisition potential; the fund maintains minimal cash holdings under normal conditions, favoring full investment in equities. The fund offers multiple share classes, including Class A (RMBKX, inception June 7, 1999, 5.00% maximum sales charge, 1.39% expense ratio), Class C (RMBNX, inception April 29, 2005, 1.00% maximum sales charge, 2.14% expense ratio), and Class I (RMBLX, inception February 1, 2017, no sales charge, 1.14% expense ratio), with aggregate assets under management of approximately $223.3 million as of November 30, 2025. Managed by RMB Capital Management, LLC, located at 115 S. LaSalle Street, 34th Floor, Chicago, Illinois, the fund is led by a team including senior portfolio manager Anton Schutz (since inception), Daniel Goldfarb (since May 1, 2022), and Anton Schutz, Jr. (since May 1, 2024); it operates within the U.S. mutual fund market, targeting investors seeking sector-specific exposure to financial services through a value-oriented, active strategy with a portfolio turnover ratio of 52.68% and 44 holdings as of late 2025, where the top ten holdings represent 46.80% of assets. Launched in 1999, the fund has grown its asset base steadily, reflecting sustained investor interest amid volatile financial sector conditions; as of May 1, 2025, expense ratios were reaffirmed with no reported changes, and portfolio characteristics including a weighted average market cap of $2,959 million, active share of 92.43%, and beta of 0.92 versus benchmarks underscore its high-conviction approach.