TALLINN — Young Estonian businessman Andrei Korobeinik has opened a new kind of mutual fund, curiously named CuteFund.com, a crowd-sourced mutual fund for public use in three months.

The fund, currently with 99 investors buys stocks from the U.S. market and will offer those to investors in the European Union. The shareholders of [private_supervisor]the CuteFund are Andrei Korobeinik, Evgeny Psenichnikov and Jon Bradford, director of business incubator “The Difference” who paid £20,000 (€24,116) for his share in the company. The company the runs the website, Nowcom Invest LLC is registered in Great Britain.

The CuteFund buys and sells stocks just like any other investment fund, but unlike other funds CuteFund does not have fund manager. All the users can vote for stocks: the most popular stocks are bought and less popular are sold. Once the fund will get a trading license, then users can vote for stocks and compete with Wall Street analysts. CuteFund trades with real money but will be able to accept investments from users only after its license is granted, until then people can try out the service on its website.

“The new fund is for those investors who do not trade on the exchange or for those who do not have the skills, but also for those who are not happy with what the banks offer,”  Korobeinik told the Äripäev newspaper.

He added that usual funds are like black boxes that are not transparent and one does not know why one or another decision is taken. If one wants to know more, then the answer is not granted.

“I am the first client of the fund, and I have currently 1.5 million krooni (€95,867) of my personal money there,” he added.

Korobeinik told the panel at the GeeknRolla start-up conference in London that CuteFund is two times cheaper than regular mutual funds for investors and more efficient. But will it make more profitable investments with this democratic approach instead of letting an financial expert handle the fund? It remains to be seen. [/private_supervisor] [private_subscription 1 month]the CuteFund are Andrei Korobeinik, Evgeny Psenichnikov and Jon Bradford, director of business incubator “The Difference” who paid £20,000 (€24,116) for his share in the company. The company the runs the website, Nowcom Invest LLC is registered in Great Britain.

The CuteFund buys and sells stocks just like any other investment fund, but unlike other funds CuteFund does not have fund manager. All the users can vote for stocks: the most popular stocks are bought and less popular are sold. Once the fund will get a trading license, then users can vote for stocks and compete with Wall Street analysts. CuteFund trades with real money but will be able to accept investments from users only after its license is granted, until then people can try out the service on its website.

“The new fund is for those investors who do not trade on the exchange or for those who do not have the skills, but also for those who are not happy with what the banks offer,” Korobeinik told the Äripäev newspaper.

He added that usual funds are like black boxes that are not transparent and one does not know why one or another decision is taken. If one wants to know more, then the answer is not granted.

“I am the first client of the fund, and I have currently 1.5 million krooni (€95,867) of my personal money there,” he added.

Korobeinik told the panel at the GeeknRolla start-up conference in London that CuteFund is two times cheaper than regular mutual funds for investors and more efficient. But will it make more profitable investments with this democratic approach instead of letting an financial expert handle the fund? It remains to be seen. [/private_subscription 1 month] [private_subscription 4 months]the CuteFund are Andrei Korobeinik, Evgeny Psenichnikov and Jon Bradford, director of business incubator “The Difference” who paid £20,000 (€24,116) for his share in the company. The company the runs the website, Nowcom Invest LLC is registered in Great Britain.

The CuteFund buys and sells stocks just like any other investment fund, but unlike other funds CuteFund does not have fund manager. All the users can vote for stocks: the most popular stocks are bought and less popular are sold. Once the fund will get a trading license, then users can vote for stocks and compete with Wall Street analysts. CuteFund trades with real money but will be able to accept investments from users only after its license is granted, until then people can try out the service on its website.

“The new fund is for those investors who do not trade on the exchange or for those who do not have the skills, but also for those who are not happy with what the banks offer,” Korobeinik told the Äripäev newspaper.

He added that usual funds are like black boxes that are not transparent and one does not know why one or another decision is taken. If one wants to know more, then the answer is not granted.

“I am the first client of the fund, and I have currently 1.5 million krooni (€95,867) of my personal money there,” he added.

Korobeinik told the panel at the GeeknRolla start-up conference in London that CuteFund is two times cheaper than regular mutual funds for investors and more efficient. But will it make more profitable investments with this democratic approach instead of letting an financial expert handle the fund? It remains to be seen. [/private_subscription 4 months] [private_subscription 1 year]the CuteFund are Andrei Korobeinik, Evgeny Psenichnikov and Jon Bradford, director of business incubator “The Difference” who paid £20,000 (€24,116) for his share in the company. The company the runs the website, Nowcom Invest LLC is registered in Great Britain.

The CuteFund buys and sells stocks just like any other investment fund, but unlike other funds CuteFund does not have fund manager. All the users can vote for stocks: the most popular stocks are bought and less popular are sold. Once the fund will get a trading license, then users can vote for stocks and compete with Wall Street analysts. CuteFund trades with real money but will be able to accept investments from users only after its license is granted, until then people can try out the service on its website.

“The new fund is for those investors who do not trade on the exchange or for those who do not have the skills, but also for those who are not happy with what the banks offer,” Korobeinik told the Äripäev newspaper.

He added that usual funds are like black boxes that are not transparent and one does not know why one or another decision is taken. If one wants to know more, then the answer is not granted.

“I am the first client of the fund, and I have currently 1.5 million krooni (€95,867) of my personal money there,” he added.

Korobeinik told the panel at the GeeknRolla start-up conference in London that CuteFund is two times cheaper than regular mutual funds for investors and more efficient. But will it make more profitable investments with this democratic approach instead of letting an financial expert handle the fund? It remains to be seen. [/private_subscription 1 year]

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