Astor Asset Management, a subsidiary of market maker and trading specialist Knight Capital Group, has increased its mutual fund offerings to three.
The newly launched funds of ETFs are Astor Active Income ETF Fund and Astor SP Growth ETF Fund [prospectus].
Astor came out with its debut mutual fund, Astor Long/Short ETF Fund in October 2009.
The Astor Active Income ETF Fund seeks to give investors yield while protecting capital. Expense ratios are 145 basis points for class A shares and 220 bps for C shares.
The Astor SP Growth ETF Fund seeks to provide
a volatility level lower than the broad equity markets over a complete market cycle. The fund comes with an expense ratio of 180 bps for A shares and 255 bps for C shares.
"We now have the ability to offer advisors and their clients
access to three tactical asset allocation strategies that follow our
macroeconomic investment philosophy," said Robert Stein, founder, senior managing director and head of global asset management at Astor, in a press release.
Stein added that amid the volatile markets, "there is a great deal of investor demand for a flexible, go-anywhere investment management approach to investing compared to the traditional ‘buy-and-hold’ funds.”
Company Press Release
Knight Announces Launch of Two Actively Managed ETF Mutual Funds From Astor Asset Management
Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced that subsidiary Astor Asset Managementlaunched the Astor Active Income ETF Fund and the Astor SP Growth ETF Fund.
Astor specializes in constructing portfolios by investing in
exchange-traded funds based on a macroeconomic approach and tactical asset allocation strategies. Astor’s actively managed portfolio of ETFs are designed with the goal of protecting and growing capital over time at an attractive absolute compounded return, without the performance fees and lock-up periods of hedge funds. These portfolios of ETFs are offered through financial advisors within separately managed accounts and mutual funds.
The Astor Active Income ETF Fund (A Share: AXAIX; C Share: CXAIX) takes a tactical approach to fixed income investing based upon macroeconomic principles and yield curve analysis and seeks to provide investors with yield while protecting capital. The Astor SP Growth ETF Fund (A Share: ASPGX; C Share: CSPGX) follows a tactical asset allocation approach based on macroeconomic fundamentals and seeks to provide a lower level of volatility than the broad equity markets over a complete market cycle. The firm launched the Astor Long/Short ETF
Fund (A Share: ASTLX; C Share: ASTZX; I Share: ASTIX; R Share: ASTRX)
in October 2009.
“We are very excited to round out our mutual fund lineup with the
launch of two new funds,” said Robert N. Stein, Astor’s founder,
Senior Managing Director and Head of Global Asset Management at
Knight. “We now have the ability to offer advisors and their clients
access to three tactical asset allocation strategies that follow our
macroeconomic investment philosophy. We believe that in today’s
volatile markets there is a great deal of investor demand for a
flexible, go-anywhere investment management approach to investing
compared to the traditional ‘buy-and-hold’ funds.”
For more information about Astor Asset Management, please visit
www.astorllc.com or call 800-899-8230.
Knight Capital Group (NYSE Euronext: KCG) is a global financial
services firm that provides access to the capital markets across
multiple asset classes to a broad network of clients, including buy-
and sell-side firms and corporations. Knight is headquartered in
Jersey City, N.J. with a global presence across the Americas, Europe,
and the Asia Pacific region. For further information about Knight,
please visit www.knight.com.
An investor should consider the Astor funds’ investment objectives,
risks, charges, and expenses carefully before investing. This and
other information about the Astor funds are contained in the fund’s
prospectus, which can be obtained by calling (877) 380-0333. Please
read the prospectus carefully before investing. The funds are
distributed by Northern Lights Distributors, LLC, member FINRA. Astor
Asset Management LLC and Knight Capital Group, Inc. are not affiliated
with Northern Lights Distributors, LLC.
Mutual funds involve risk including the possible loss of principal.
The Astor funds achieve their investment objectives by primarily
investing in exchange-traded funds (ETFs). An ETF is a type of
investment company whose investment objective is to achieve the same
return as a particular market index. An ETF will invest in either all
of the securities or a representative sample of the securities
included in the index. ETFs and underlying funds are subject to
investment advisory and other expenses, which will be indirectly paid
by the Astor funds. As a result, your cost of investing in the funds
will be higher than the cost of investing directly in ETFs or
underlying funds and may be higher than other mutual funds that invest
directly in stocks, bond or other assets. The Astor funds may
purchase ETFs and underlying funds that invest in “alternative asset”
or “specialty” market segments. The risks and volatility of these
investments are linked to narrow segments of the economy such as
commodities, real estate, or currency exchange rates and may include
leverage, which magnifies the changes in the value of the ETF or
underlying fund. When the Astor funds invest in fixed-income ETFs or
underlying funds the value of your investment in the funds will
fluctuate with changes in interest rates. Debt issuers may not make
interest or principal payments, resulting in losses to the funds. In
addition, the credit quality of securities held by an ETF or
underlying fund may be lowered if an issuer’s financial condition
changes. The Astor Long/Short ETF Fund engages in hedging or
declining-market strategies by investing in inverse ETFs and
underlying funds, which could result in significant losses. This fund
will not participate in market gains to the extent it holds inverse
securities. The Astor SP Growth ETF Fund may invest in ETFs or
underlying funds that invest in small and medium capitalization
companies. Securities of small and medium capitalization companies
may be subject to more abrupt or erratic market movements than those
of larger, more established companies or the market averages in
Certain statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are not
historical facts and are based on current expectations, estimates and
projections about the Company’s industry, management’s beliefs and
certain assumptions made by management, many of which, by their
nature, are inherently uncertain and beyond our control. Accordingly,
readers are cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict including,
without limitation, risks related to the corporate restructuring in
the third quarter 2011, including the ability to recognize anticipated
cost savings, the possibility of unexpected costs or expenditures, and
the impact of the restructuring on the Company’s businesses and
results of operations, risks associated with changes in market
structure, legislative, regulatory and financial rules changes, risks
associated with the Company’s changes to its organizational structure
and management and the costs, the integration, performance and
operation of businesses recently acquired or developed organically, or
that may be acquired or developed organically in the future. Readers
should carefully review the risks and uncertainties disclosed in the
Company’s reports with the U.S. Securities and Exchange Commission
(SEC), including, without limitation, those detailed under the
headings “Certain Factors Affecting Results of Operations” and “Risk
Factors” in the Company’s Annual Report on Form 10-K for the
year-ended December 31, 2010, and in other reports or documents the
Company files with, or furnishes to, the SEC from time to time. This
information should also be read in conjunction with the Company’s
Consolidated Financial Statements and the Notes thereto contained in
the Company’s Annual Report on Form 10-K for the year-ended December
31, 2010, and in other reports or documents the Company files with, or
furnishes to, the SEC from time to time.