Altegris is looking to add a pair of alternative mutual funds to its portfolio in March.
According to Dick Pfister, Managing Director, Global Sales and Consulting for Altegris, the firm will launch the Altegris Multistrategy Fund and the Altegris Credit Long/Short Fund on March 1. Pfister told Money Management Executive that the multi-strat fund will have exposure to current Altegris funds including the Altegris Macro Strategy Fund (MCRAX) and the Altegris Equity Long Short Fund (ELSAX).
“We’re taking the five mutual fund strategies that we have and put it into one multi-strategy fund. For advisors who don’t exactly know how much of a percentage of a particular strategy to allocate to, they would come into the multi-strat fund,” said Pfister.
The credit fund, which has been in the works for two years, will bet on rising and falling Treasury rates. “Rates are at extremely low levels today and we believe rates will rise inevitably. The advisors we talk to big portions of their clients’ books in various types of bonds but they’re all fearful of a quick rate rise and they have nothing in their portfolios to take advantage of that,” said Pfister.