November 3, 2011

At Schwab Impact, Altegris Launches Futures-Fixed Income Fund Subadvised by Gundlach

The Altegris Futures Evolution Strategy mutual fund uses DoubleLine’s fixed income strategies to supplement managed futures strategies

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Altegris Advisors, the alternative private fund and mutual fund shop, announced Thursday during the Schwab Impact 2011 conference that it has launched the Altegris Futures Evolution Strategy Fund (EVOAX). The fund is a ’40 Act mutual fund that combines the investing expertise of Jeffrey Gundlach’s DoubleLine Capital in fixed income with a managed futures strategy led by London-based Winton Capital Management.

In an interview at Impact, being held in San Francisco’s Moscone Center through Thursday, Altegris President and CEO Jon Sundt (left) said that “many people don’t realize that most managed future funds allocate a large amount of its assets to highly liquid, short-term securities” that provide little in the way of yield.

By using a combination of DoubleLine’s actively managed fixed income strategies with managed futures strategies led by Winton, investors who are willing to take on a bit more risk will, says Sundt, gain returns from the traditionally non-correlated managed futures approach but with the added feature of income generated by DoubleLine’s strategies. Because of the structure of the fund, quipped Sundt, “you’re also getting Jeffrey Gundlach for free.”

Sundt said that there are both load and no-load share classes for the fund available for advisor use, with one distribution agreement with a broker-dealer already in place, and the fund “will be available to a custodian or broker-dealer near you.”

Click here to read AdvisorOne’s complete coverage of Schwab Impact 2011.

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