MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, December 7, 2012 An Alts Fund Shop Searches for a Sub-Advisor or Two Ascentia Capital Partners [profile] is seeking an advisor for its Alternative Strategies Mutual Fund. According to a filing with the U.S. Securities Exchange Commission, Ascentia terminated the sub-advisor agreements for the fund with Palladiem and Armored Wolf. Stephen McCarty, managing director and chief compliance officer at Ascentia told MFWire that "in a nutshell, we are looking for replacement sub-advisor(s)." "We are making some changes and really looking for a single sub-advisor that can manage multiple alternative strategies, rather than a variety of managers that handle single specific strategies," he said. McCarty said that Palladiem was intended to fill this single sub-advisor role "but they have decided to go in another direction with SMAs rather than mutual funds." He added that the fund "continues to operate with a multi-alternative approach via the use of ETFs, SMAs, and potentially other MFs." Printed from: MFWire.com/story.asp?s=42293 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |