CHICAGO (HedgeWorld.com)–Price Asset Management Inc., a division of the commodities trading firm Price Group, is launching a registered managed futures fund.
The Price Fund I LP is open to investors for a low initial account size of US$5,000 or US$2,000 for qualified retirement accounts. With an initial offering of US$50 million, the fund is a public alternative investment pool that is registered under the Securities Act of 1933.
The fund invests in futures and forward contracts by hiring up to seven trading advisers to handle the portfolio. Price Asset Management is now in the process of raising funds and anticipates trading will begin at the end of August. Officials at Price wanted a product for retail investment advisers, said Scott Baldwin, executive vice president.