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 |
|
Tuesday, February 4, 2014 Shop Serves Up Single Alts to Connoisseurs When it comes to Scotch whiskey, ingenues are first served the blends. They're mellower, easier to handle. As palates develop, drinkers move onto the single malts -- each with their own distinctive profile. As the whiskey industry, so goes liquid alts. Altegris is an example of one such firm offering single alts, so to speak. The La Jolla, California-firm currently offers seven alt funds. The firm plans to launch two more funds this year, single-manager versions of two strategies previously offered in multi-manager versions. Dick Pfister, executive vice president and managing director of global sales and consulting for Altegris, explained his company's thinking in this way:
A key advantage of single manager products is that they have lower costs structures and expense ratios than multi-manager products. Pfister says that like in everywhere else in the industry, the alts market is experiencing price pressure from advisors. Of course, the buyers of these single alts will be slightly differently from those wading in with the multi-manager products. Single alt connoisseurs are comfortable with the higher level of risk that comes with single manager products, and often mix and match such products to make their own blends. Meanwhile, Altegris is experiencing no shortage of alt shops who want to serve up bottles of their investments in '40 Act Country. "We still have a large footprint in hedge funds, which are the feeding ground for our '40 Act funds. Managers who would never have talked to us five years ago, who wouldn't touch '40 Act, are now reaching out to us, regularly," Pfister said. Printed from: MFWire.com/story.asp?s=47478 Copyright 2014, InvestmentWires, Inc. All Rights Reserved |