UCM Partners, a New York City-based boutique asset manager specializing in residential and commercial mortgage-backed securities, will be launching the UCM MBS Total Return Fund, its second mutual fund. The company filed on May 6 to launch the fund, which seeks to provide a high level of risk-adjusted current income and capital appreciation by investing in mortgage-backed securities.

The fund will be available in institutional shares with an expense ratio of 77 basis points and investor shares carrying a price tag of 102 bps.

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