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Rating:Two Dozen Alts Managers Sought for Series Trust Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, February 18, 2014

Two Dozen Alts Managers Sought for Series Trust

Reported by Tommy Fernandez

Two dozen alts managers are sought for a new series trust, the brainchild of the execs at the fund industry companies CAIS, Citi and Atlantic Fund Services, called ALTX Trust.

The trust is marketed by the company as a "series trust designed to provide a turnkey solution for hedge fund managers that seek to launch '40 Act mutual funds."

David Sandrew, managing director for business development at Atlantic Fund Services told MFWire why he thinks the platform is well-suited for bringing alts to '40 Act Country.

ALTX Trust is designed to attract blue chip global hedge fund managers. We plan to target a finite number of investment managers that have built strong pedigrees and draws wide investor appeal.  The solid variety of strategies will address the wealth managers desire to use Liquid Alternatives effectively in providing asset allocation. Distribution efforts benefits with a limited number of managers associated as best of class in their investment space.

The collaboration of CAIS, CITI, Mercer and Atlantic Fund Services brings together the right combination of capabilities and services required to successfully launch the ALTX Trust. CAIS offers its distribution technology powered by the engine of research, ranking and due diligence provided by Mercer. This technology will support CAIS’s expansive wholesaling footprint in the RIA and broker-dealer networks. Citi’s Investor Services division is the exclusive global custodian for the trust, and serves as the preferred prime broker to newly launched alternative mutual funds on the ALTX Trust.  We at Atlantic Fund Services for almost two decades have provided fund administration, governance and compliance support to alternative strategies in 40 Act structures and our role within ALTX Trust is a natural carry over. 

Sandrew said the trust offers the following distribution advantages:

  • Significant wholesaling mapping to what he described as “NFL City Team*” coverage. (*NFL CITY teams reside in the wealthiest areas of the country. Capital raisers and Distribution teams like to map there sales efforts to where NFL Teams are located.)
  • Distribution supported with a progressive technology driven by Mercer for research and due diligence.
  • CAIS ‘s expertise and reputation in raising assets for private funds converts to wholesaling mutual funds.
  • Mercer’s deep consultative experience in alternative assets is now available for liquid alternatives in 40 act structures.
  • Mercer’s rating available for funds on inception and without the completion of a three year track record.
    "We think the ALTX Trust is compelling for managers who want the ability to offer successful alternative strategies to a wider investor base and financial intermediaries allocating clients assets into liquid alternatives. This Series Trust has the right foundation of experienced and competent service providers and powerful distribution services to raise assets and in parallel assist in the proper governance at the Board level and allow shareholders transparency to make well educated decisions," Sandrew said.

    In addition to Sandrew, the key people to contact regarding the platform are as follows: Rafay Farooqui, co-founder and president of CAIS; David Eisenberg US segment lead for Wealth Managers at Mercer; Sandy Kaul Global Head of Business Advisory Services for CITI Prime Finance, and Richard Webley US Head of Business Advisory Services for CITI Prime Finance. 

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