It only invests in the region. Like...Southwest Florida Swampland Ventures. Its goal? Turn swamps into golf courses, condos, and spas where they teach yoga and give coffee enemas. That fund will invest in the Southwest Florida region, and likely be funded by Floridians who want to make improvements to their state, presuming that this venture is, in fact, improvement.
Regional funds tend to be done both for profit and for do-gooderness, or for some broader, geographically loyal reason. Otherwise, it's hard enough to make money investing and do "better than the market"...so you'd not be regional if you just cared about making money. That is, you'd just invest anywhere you thought your dough would work well for you, instead of in a region.
Tell that to the future-shoes/alligators here.
Related or Semi-related Video
Finance: What is a Family of Funds?6 Views
Finance a la shmoop what is a family of funds? a family, a mutual fund family [Family hugging each other]
that's what we're talking about here you know that go it's the story of a lovely
mutual fund yeah alright nevermind sorry here are
the mama bear income funds yeah filled with dividend stocks and bonds safe [Mama bear bowl tips out dividend and bonds]
steady reliable and here are the Papa Bear growth funds filled with tech
stocks and risky things that pay no dividend they traded high multiples too...
just for your pleasure yeah well he's great when he's sober
that Papa Bear and happy and not in his kind of market ie bear it makes a high
multiple stock do bad things all right well then there are the baby bear [Baby bear fund blocks building blocks appear]
funds aw cutie-wootie shmoody pie, here's a small cap fund young companies sowing
their oats not exactly certain where to urinate.. yeah we've been there it's a
not a pretty sight and here's an international fund China, Russia, Latin
America someday maybe Mars and here's an emerging market fund maybe that's where
Mars belongs....it's really small but it has big hopes like [Ant appears beside a tree]
that ant and the rubber tree plant alright we won't sing why do we label
these funds as being a family well because they all live in the same
investment management house that house might be called fidelity or capital
research for the American Funds brand or Franklin funds or BlackRock...Fund families
usually grew up around one or two successful individual funds that funds
managers garnered a solid reputation among the people who know on Wall Street [People give thumbs up to fund manager]
and while they simply tacked on additional funds leveraging the
superstar fund or two that brought them to the dance
tons of synergies happen when funds exist under one house shared legal work
shared research analytics shared portfolio management, duties, shared
brains, shared distribution compliance 12B-1 fees and more brain pulses a lot of
brains one house lots of funds if you're a partner in one of them well
financially it's lots of fund....you know it's like a family family affair [Family sitting in a garden eating food]
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