WBI Investments has launched two new absolute return mutual funds for its individual and institutional investors, Advisor One reports. The WBI Absolute Return Balanced Fund targets the current income and long-term capital appreciation and the WBI Absolute Return Dividend Growth Fund seeks long-term capital appreciation and current income.

The portfolios will be co-managed by the firm’s CEO and founder, Don Schreiber and vice president and a WBI portfolio manager, Gary Stroik. WBI hired U.S. Bancorp Fund Services as transfer agent, accountant and administrator, while U.S. Bank is the custodian, adds MutualFundWire.

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