Stewart Capital Advisors, LLC, the investment advisor for Stewart Capital Mutual Funds, said that it has made the Stewart Capital Mid Cap Fund available as a no-load mutual fund effective April 1.

The fund, which bets primarily in undervalued mid-cap stocks, received a 5-star Overall Morningstar Rating as of December 31, 2011 and is currently available through Fidelity Institutional FundsNetwork, Pershing FundCenter,  and Schwab Institutional among other distribution platforms.

"Financial advisors have changed their business models to emphasize fee-based business, and analysis of the business that has come to the fund via financial advisors validates this trend," stated Malcolm Polley, president and chief investment officer, Stewart Capital.

"After careful consideration and analysis, we have decided to make the mutual fund available as a no-load fund, making the investment process less cumbersome for financial advisors participating in this trend and removing barriers for those investors who choose to manage their own investments."

Hung Tran writes for Money Management Executive.