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Westport Resources Adds Mutual Fund Team to Its Firm

Paul LaBossiere
Paul LaBossiere

Westport Resources, a leading independent investment and financial planning firm serving individuals, families, municipalities and institutions around the world, welcomes to its staff a team of three Managing Directors – Paul LaBossiere, CFA; Michael Portnoy; and Mark Tonucci – who specialize in creating mutual funds by utilizing the experience of hedge fund managers.

Mr. LaBossiere, Mr. Portnoy and Mr. Tonucci come to Westport Resources from Trust Advisors, one of the first advisory firms to construct and manage multi-manager alternative asset portfolios. Portnoy and Tonucci have worked together since the 1980s and have known John Vaccaro, CEO of Westport Resources, since then as well. They and LaBossiere joined Westport Resources in November 2013 as a result of the firm’s decision to offer a series of its own mutual funds.  (The first fund launched on December 31, 2013, and is called the ALPS / Westport Resources Hedged High Income Fund, an open-ended mutual fund designed to protect principal while producing high current income.)

“This is a very exciting time for Westport Resources,” Vaccaro said.  “Expanding our service offerings to include a mutual fund is a big step, one which I’ve been happy to take with the guidance and expertise of Paul, Mike and Mark. Their depth of experience is impressive and I’m confident in their abilities to manage our fund successfully.”

LaBossiere serves as Managing Director for Westport Resources and is responsible for strategic planning and relationship management. For the past 19 years, he has focused on alternative asset management. He joined Trust Advisory Partners, LLC from Gabelli & Partners, LLC where for six years he worked on the parent company’s brand extension into hedge funds. His past experience with institutional investors includes senior roles at Innovest Capital, a market neutral manager, as well as HSBC Asset Management where he worked with the very largest private equity investors. Previous positions include client relationship work at JP Morgan Investment Management and Bank of America. LaBossiere graduated from the US Naval Academy serving as a Navy Pilot for seven years. He holds his Series 7, 63 and 66 security licenses and is a Chartered Financial Analyst. LaBossiere is married with two children and resides in Rye, N.Y.

Portnoy serves as Managing Director for Westport Resources and Portfolio Manager for the ALPS / Westport Resources Hedged High Income Fund. He is responsible for all aspects of the fund’s creation and operation including manager research and selection, monitoring and on-going due diligence. From 2009 to 2011 Portnoy was a vice president of public investments for Hatteras Funds, a multi-billion dollar firm specializing in alternative investments. There, he was the portfolio manager of the Hatteras Alternative Mutual Funds, formerly the AIP Funds, a multi-manager, multi-strategy fund of funds in a daily liquid ‘40 Act mutual fund format. Portnoy has spent his career of nearly 40 years developing and managing innovative investment products.  Among his many successful ventures were The Managers Funds, developed at Evaluation Associates in the 1980s and now owned by Affiliated Managers Group; Trust Advisors Equity Plus and Twin Plus, two multi-manager market neutral equity funds; and various liquid investment products developed for some of the largest US financial institutions. Portnoy holds a BA from Ohio Wesleyan and an MBA from Capital University. He holds his Series 7, 24, 26, 63, and 66 security licenses. Portnoy is married with two children and resides in Newtown, Conn., where he has served ten years on the town’s Board of Finance.

Tonucci serves as Managing Director for Westport Resources and Portfolio Manager for the ALPS / Westport Resources Hedged High Income Fund. He, too, is responsible for all aspects of the fund’s creation and operation including manager research and selection, monitoring and on-going due diligence. Tonucci has 40 years of experience as a portfolio manager and research analyst in the hedge fund, mutual fund and trust industries. He was most recently a portfolio manager for Hatteras Alternative Mutual Funds. From 1996 to 2009 Tonucci served as Managing Director at Trust Advisors LLC, an asset management and consulting firm.  He co-led the decision making process for manager selection in multi-strategy funds including Trust Advisors Multi-Strategy Fund and the AIP Funds. Prior to forming Trust Advisors LLC, Tonucci was a Senior Vice President at Evaluation Associates where he spearheaded the development of an investment management group for institutional investors. Tonucci holds a BA from Southern Connecticut State University and an MBA from University of New Haven. He also holds his Series 7, 24, 26, 63 and 66 security licenses. Tonucci is married with three children and resides in East Haven, Conn.  He has served on a number of boards of directors and trustees.

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