Catalyst Funds Acquires TCG Financial Series Trust Money Funds

Sep 11 2015 | 5:59pm ET

Liquid alternative mutual fund specialist Catalyst Funds has acquired the TCG Financial Series Trust funds, a group of 10 alternative money market funds that invest primarily in bank deposits.

The TCG funds generally offer a higher yield than traditional money market funds, as well as FDIC insurance for the funds’ investors. They will initially only be offered to institutional investors.

Terms of the acquisition were not disclosed. 

“These money market funds offer our investors, including our own Catalyst Funds, the potential for above-market yields with the added protection of FDIC insurance,” noted Jerry Szilagyi, CEO of Catalyst Funds, in a statement. “They are consistent with our philosophy of offering ‘intelligent alternative’ investment products.”

Catalyst offers a range of strategies and liquid alternative products in mutual fund form with the goal of producing income and equity-oriented returns while seeking to control risk and volatility. 

The company’s 25 distinctive funds, including three hedge funds that were converted into mutual fund products, encompass a wide spectrum of investment approaches including dynamic equity, hedged strategies, alternative income and global equity. The Huntington, NY-based firm has more than $2 billion in assets under management.

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