Kinetics Asset Management of New York, the investment adviser of the Internet Fund, has filed with the SEC to offer a no-load fund that will invest in medical companies, especially those that are working on a cure for cancer.
The company expects to start selling shares of the new fund, The Medical Fund, on Sept. 20, according to an SEC filing. The fund will invest in small- and mid-cap medical research companies, especially those engaged in cancer research, the filing said.
Bruce P. Abel, a fund co-manager, will handle the research and analysis of developing medical technologies and cancer treatments.
Peter B. Doyle, chief investment strategist and chairman of the board of Kinetics, will be the other co-manager and will handle the day-to-day management of the fund's assets.