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TFS Launches Mutual Fund

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RICHMOND, Va. (–One of a few hedge funds to cross the great divide into the mutual fund space, TFS Capital officially launched its first mutual fund that offers retail clients a way to invest in alternatives.

The TFS Market Neutral Fund lets the firm offer its mainline investment strategy to non-qualified investors who are unable to meet the requirements for private investment funds.

With an initial minimum investment of US$5,000 the fund is a no-load product that will ultimately be assigned a ticker symbol. For now, it joins a universe of only about 50 to 100 mutual funds that offer alternative investment strategies, officials said in a press statement.

Most market neutral strategies are offered in a hedge fund format because of securities rules that limit the gains a fund can accept from short selling.

TFS announced earlier this year it was offering its first market neutral mutual fund (see Previous HedgeWorld Story), originally slating an Aug. 1 launch date.

The firm offers a number of hedge funds including: Huntrise Capital Leveraged Partners and Huntrise Global Partners. An equity market neutral hedge fund was launched earlier this year called Huntrise Market Neutral LLC.

According to the firm’s web site, the four hedge funds combined handle more than US$55 million in assets as of Sept. 30.

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Contact Bob Keane with questions or comments at: [email protected]