RICHMOND, Va. (HedgeWorld.com)–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.
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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.