Van Kampen Investments last Thursday launched a new equity mutual fund, marking its first new fund offering in four years.

The Van Kampen American Franchise Fund seeks long-term capital appreciation by investing primarily in stocks its portfolio managers believes to have "resilient business franchises and growth potential."

"This is the first new fund launched by Van Kampen in four years, and broadens the spectrum of Van Kampen equity funds while offering investors what we believe is an interesting complement to their domestic equity allocation," said Michael Kiley, the company's president and CEO.

The fund will be managed by a five-member team led by Hassan Elmasry, an industry veteran with 20 years under his belt. The team brings with it plenty of experience having run the $2 billion Van Kampen Global Franchise Fund, a five-star rated fund that has outpaced the S&P 500 in each of the last five years and boasts a 13.5% return for that stretch.

The American Franchise portfolio is expected to hold 20 to 40 stocks and will be offered to retail investors in A B and C share classes with a minimum investment of $1,000, the Oakbrook Terrace, Ill.-based company said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.