Frost Investment Advisors has rolled out an absolute return mutual fund The launch of the Frost Diversified Strategies Fund [SEC filing] on January 5 raises the number of the San Antonio, Texas-based company's retail mutual funds to 11.

The firm also offers 13 institutional mutual funds.

The new retail product had been in the works for about a year, said Frost Investment Advisors president Tom Stringfellow. "We wanted to create a product that was retail customer-friendly."

The fund aims to provide capital growth while lowering portfolio volatility with reduced correlation to the stock and bond markets.

Stringfellow said Frost might expand its fund menu down the road. Among the possible future offerings, "we are considering the possibility of launching a natural resources fund," Stringfellow said. 

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