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Portfolio > Investment VIPs

Refco Lowers Fees on Managed Futures Fund

By Staff Writer

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NEW YORK (HedgeWorld.com)–The fees charged to investors in Refco’s S&P Managed Futures Index Fund have been lowered by 125 basis points for Class 1 and Class 2 shares, and Refco had added other enhancements to the US$50 million fund.

The index fund’s performance traces the Standard & Poor’s Managed Futures Index before expenses of the fund and is offered in a way that grants individual investors access to more than one commodity trading adviser, with lower minimum investments than if they invested with individual CTAs.

The fund has been popular since its inception 18 months ago, according to Refco.

Besides lowering the fund’s fee structure, Refco officials have increased liquidity terms to semi-monthly from monthly and simplified the documentation process for new clients. Also, in a move to cater to the needs of the retail investment community, Refco issued new educational materials for financial advisers and investors.

The new information explains the benefits of managed futures as well as the commensurate risk, said Michael Remigino, Refco national sales manager, in a statement. The level of transparency and due diligence inherent to the index he said gives investors peace of mind. The index’s constituents are publicly available on S&P’s hedge fund index web site.

Sold principally through U.S. broker dealers, the fund has an investment minimum of US$10,000, with US$3,000 for an individual retirement account and US$2,500 minimum for subsequent investments.

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

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