I have had the same thought as you in starting my own mutual fund.
1) I thought of contacting AIM funds (they have the right name) and proposing the AIM AIM fund
2) It would have to be a CLOSED END FUND (for the reason you mentioned ... avoid redemptions)
3)I would divide the market in to sector the # depending on the size of the fund
4) I would want one stock analyst as an employee of the fund to pick the best stock in each sector to AIM and to advise switching to a better stock within that sector as needed.
Toofuzzy
Take the road less traveled. It will make all the difference.