NEW YORK - An investment company has hired an environmental engineer to run a mutual fund that invests in water infrastructure. The company calls it the only actively managed fund that makes such investments.

Aqua Terra Asset Management LLC, formed as a subsidiary of West Conshohocken, Pa.-based Boenning & Scattergood Inc., was selected as the subadviser for the Kinetics Water Infrastructure Fund last month. It will invest in natural resources, with a focus on water infrastructure.

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Posted by rjorr at August 6, 2007 9:35 AM