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Longboard launches managed futures mutual fund

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Longboard Asset Management has launched the Longboard Managed Futures Strategy Fund, an investment product offering the firm’s managed futures strategy in a mutual fund package.

Unlike the fund of funds structure, the fund’s goal is to offer direct access to portfolio manager talent at relatively lower costs and with greater transparency when compared to 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," says Cole Wilcox, chief executive and chief investment officer of Longboard. "Longboard’s objective is to solve the needs of the investment adviser community."

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.

In a national survey recently conducted by Morningstar and Barron’s, for the second year in a row advisers cited managed futures as the asset class to which they were most likely to increase their exposure.

"After experiencing years of market turmoil, we believe financial advisers have a real need for alternative forms of portfolio diversification for their clients," Wilcox says. "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."

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