NorthPoint Establishes Alternative Mutual Fund Group

Sep 30 2011 | 10:28am ET

Prime broker NorthPoint Trading Partners has an eye on the growing hedge fund-like mutual fund market.

The ConvergEx Group unit has launched a new business serving alternative mutual funds. The new group will work both with mutual fund firms and hedge fund managers interested in launching hedge-like products in mutual fund form.

"Today, alternative mutual funds represent less than 1% of the $12 trillion mutual fund market," NorthPoint CEO Doug Nelson said. "Since we began offering select services to launch alternative mutual funds back in May, we have seen a significant uptick in demand. We believe that trend will continue and our expectation is that alternative mutual funds will reach over 5 percent of the market within the next 10 years."

NorthPoint has named Jay Jacobs head of the new group. Jacobs joins from Merlin Securities.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...