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Rating:Altegris Enters the Mutual Fund Biz Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 14, 2010

Altegris Enters the Mutual Fund Biz

Reported by Armie Margaret Lee

There's a new mutual fund player in town. La Jolla, California-based Altegris Advisors [see profile] on Tuesday took the wraps off the Altegris Managed Futures Strategy Fund (MFTAX and MFTIX). [SEC filing] The firm plans to file for more mutual funds in the coming months, according to its top executive.

Jon Sundt
Altegris Advisors
President and CEO
"Many of the RIAs and broker-dealers we work with are asking us for '40 Act products," said Jon Sundt, president and CEO of Altegris Advisors and co-portfolio manager of the fund, in an interview with The MFWire.com.

"The first strategy we chose was managed futures. We believe it's a very good strategy in this market environment," he said.

Sundt noted that other managed futures mutual funds in the market are primarily index-based offerings. Altegris' product, on the other hand, is actively managed.

Altegris plans to file for more mutual funds in the next six months, Sundt said.

What sets Altegris apart from fund firms that are offering alternative mutual funds is that "we come from the alternative space. That's in our DNA, that's who we are," he said.

The Managed Futures Strategy Fund is available through the Schwab platform and will have a spot on Fidelity's supermarket in the next few weeks.

John Scarcella and Kirk Strawn head up Altegris' sales team, which consists of 10 external and internal wholesalers. Altegris has more than 50 selling agreements in place for the fund.

Class A shares come with an expense ratio of 200 basis points and I shares sport a 175-bps expense ratio.

The fund offers access to five best-of-breed managers. "We may choose to add more over time," Sundt said.

Gemini Fund Services is the administrator, transfer agent and fund accountant, Northern Lights Distributors handles distribution, McGladrey & Pullen serves as the independent registered public accounting firm and Thomas Hine LLP is the legal counsel.
Company Press Release

Altegris Advisors Launches Managed Futures Strategy Fund

Investors gain access to Managed Futures through one of the first actively managed mutual funds

LA JOLLA, Calif., Sept. 14 -- Altegris Advisors (www.altegrismutualfunds.com) is pleased to announce the launch of the Altegris Managed Futures Strategy Fund (Tickers: MFTAX, MFTIX). The Fund offers a simple, convenient way for individual and professional investors to participate in Managed Futures through an actively managed mutual fund. Over the last decade, US Stocks lost -17%. Over the same period, Managed Futures gained +122%*.

"Managed Futures have a sustained historical track record throughout a number of major market scenarios," said Jon Sundt, President and CEO of Altegris Advisors and a Co-Portfolio Manager of the Fund. "Until recently, the handful of Managed Futures mutual funds available to investors were primarily passive 'set-and-forget' index based products. The 'best-of-breed' investment managers were typically restricted to investors with high minimum net worth requirements. The Fund allows investors to participate in Managed Futures by investing in an actively managed mutual fund with low minimum investment requirements."

The Fund seeks to achieve positive absolute returns in rising and falling equity markets while experiencing less volatility than major equity market indices. The Managed Futures strategy is designed to capture returns related to trends in the commodities and financial futures markets by investing primarily in securities whose returns are derived from actively managed portfolios.

Key features of the Fund include:

•Access to what Altegris Advisors believes are premier Managed Futures investment managers
•Actively managed, dynamic portfolio – not a passive index fund
•Daily liquidity
•Low minimum investment
•No investor pre-qualifications
•1099 tax reporting
•Individual (Class A) and Institutional (Class I) share classes: MFTAX, MFTIX

"The new Fund seeks to meet the growing demand for accessible and trusted alternative investments by leveraging our history in Managed Futures", said Mr. Sundt. "We look forward to continuing to deliver innovative solutions with a singular focus on alternatives."

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