San Francisco-based RS Investments has filed paperwork with the Securities and Exchange Commission to launch the RS Equity Income Fund.
The fund invests primarily in a diversified portfolio of dividend-paying equity securities both in the U.S. and abroad. It charges management fees of 60 basis points. A firm spokesman was not immediately available for comment on the fund.
RS Investment is majority-owned by Guardian Life Insurance Company of America and managed $20.2 billion as of December 31, 2011. The firm in January appointed Matthew H. Scanlan as chief executive officer, replacing outgoing CEO Terry Otton, who announced his intention to retire late in 2010. Scanlan previously served as chief executive officer of Renaissance Institutional Management, a subsidiary of $18 billion hedge fund manager Renaissance Technologies.