Ninepoint Partners has joined the ranks of firms offering alternative mutual funds, or liquid alts.
The Toronto-based firm’s first liquid alt is the Ninepoint FX Strategy Fund, the firm said in a release on Monday.
The fund’s investment objective is to generate long-term total returns by investing globally in foreign-exchange futures on a long/short basis, the release said. The fund will be permitted to have exposure to more than 12 global currencies.
Ninepoint FX Strategy Fund will be subadvised by P/E Global LLC, a Boston-based specialist quantitative currency manager, and will be available for purchase on or about April 2.
Regulatory changes introduced in January 2019 allowed fund manufacturers to offer prospectus-qualified alternative mutual funds.