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Berkshire Global Advisors acted as financial advisor to ICON Advisors
  • has sold the ICON Funds to
  • Berkshire Global Advisors acted as financial advisor to ICON Advisors

  • Date: February 2020
  • Sector: Investment Management
  • Sub-Sector: Mutual Fund
  • Region: North America
  • Seller AUM: $1 Billion
  • Seller Details:
    ICON Advisers, Inc. is a boutique firm based in Greenwood Village, Colorado. Since its inception, ICON has employed a unique and disciplined investment approach to the way it manages assets. In 1986, Dr. Craig Callahan founded ICON using a modernized Benjamin Graham valuation model to systematically determine the intrinsic value of individual companies in order to make clear, objective investment decisions. Today, ICON offers a diverse lineup of mutual funds, Tactical Allocation Portfolios, and Strategy Based Investing Portfolios providing a wide spectrum of investment options. With its broad scope and commitment to uncovering value, ICON’s Funds and Portfolios can accommodate a wide range of investment needs.

    Buyer Details:
    Shelton Capital Management is a multi-strategy asset manager with fund administration and digital marketing expertise. With a determined focus on growth, Shelton is active in acquisitions and fund consolidations. Shelton has expertise in mutual fund and separately managed account advisor mergers and has completed six previous transactions with the goal of improving the financial and economic performance of partner firms. Shelton has offices in San Francisco, Denver and Greenwich, and manages over $2.2 billion of assets.

    Transaction Summary:
    Shelton Capital Management and ICON Advisers, Inc. will restructure the ICON Funds into a Shelton Capital mutual fund trust. Under the proposed transaction, Shelton Capital Management will serve as the investment advisor to the ICON Funds and ICON Advisers will continue to handle daily investment management as a Sub-Adviser to a streamlined ICON domestic fund lineup. In addition, Shelton Capital Management’s international portfolio management team will take over the daily responsibilities for the ICON Emerging Markets Fund and the ICON International Equity Fund will be merged into Shelton’s International Select Equity Fund, which Morningstar currently ranks as a Five-star fund.