Longboard Asset Management has launched a managed futures strategy packaged in a mutual fund product.
According to the firm, the product is aimed at offering investors direct access to portfolio manager talent at lower costs and with greater transparency when than fund of funds or private placement opportunities.
“We believe The Longboard Managed Futures Strategy Fund is positioned to meet the needs of the investment advisor community that has previously been unable to efficiently access the managed futures asset class” said Cole Wilcox, CEO and chief investment officer of Longboard.
The managed futures asset class has grown seven fold in the last 10 years, driven primarily by institutional investors. Managed futures provide the flexibility to take long and short positions across four major asset classes (stocks, bonds, currencies and commodities), thus generating the possibility for return opportunities in any economy.
“After experiencing years of market turmoil, we believe financial advisors have a real need for alternative forms of portfolio diversification for their clients. ” Wilcox continued. “Until now there have been significant structural barriers for investment advisors looking to obtain efficient access to the benefits of managed futures. Longboard attempts to offer financial advisors a value proposition by providing direct-to-manager access within a mutual fund.”
Scottsdale, Arizona-based Longboard was co-founded by Wilcox and Eric Crittenden.