Cove Street Capital is sponsoring its first mutual fund, the CSC Small Cap Value Fund, which it begin managing on Jan. 27. The fund’s former investment manager was City National Asset Management, Inc.
Cove Street founder and CIO Jeffrey Bronchick is no stranger to the product. He has managed the $21 million fund since inception in September 1998, when he was chief investment officer at Reed, Conner & Birdwell Investment Management. City National acquired RCB in 2001 and served as the fund’s investment adviser, and the fund became part of the CNI Charter Funds, according to a spokesperson for Cove Capital.