Although Netfolio closed its virtual doors on Sept.14, the legacy of the firm lives on: James O’Shaughnessy, Netfolio’s founder, will continue to manage the assets of Canadian fund company, Royal Mutual Funds, an account that was originally sub-advised by Netfolio.

Bear Stearns Asset Management, Inc., the new sub-advisor for those funds, has brought on O’Shaughnessy as senior managing director of its quantitative investments. According to an announcement on Netfolio’s defunct Web site, Bear Stearns had been the firm’s "preferred clearing and custody provider."

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