Chicago-based Dearborn Partners has launched its first mutual fund, dubbed the Dearborn Partners Rising Dividend Fund (DRDAX, DRDCX and DRDIX).

The new fund bets on companies that historically paid dividends and offer investors the potential to increase their dividend with “regularity," according to portfolio manager Carol Lippman, who joined Dearborn Partners in 2011 and along with her co-portfolio manager, Michael Andelman, manages the firm’s separately managed account assets in two similar strategies.

Dearborn Partners was formed in 1997 and manages approximately $2.5 billion of assets for institutional and private clients.

A spokesperson for the firm told Money Management Executive that: "There is definite potential for future launches but, at the moment, those are to be determined."

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