Houston-based
The fund, which Capstone says is the first of its kind, will invest in firms with stock purchase, stock bonus and stock option plans available to at least 50% of their employees.
Capstone says that companies that provide employee-ownership options are more likely to be successful and, therefore, are more likely to reap gains for fund shareholders. "Studies of employee stock ownership indicate that improved corporate operating performance may translate over time into improved stock market performance as well," the company said in a statement.
Capstone provides mutual funds and managed accounts to retail and institutional investors. It oversees nearly $3 billion assets.