Salient Partners has completed the adoption of the Broadmark Tactical Plus Fund, which is now available as the Salient Broadmark Tactical Plus Fund (Class A Ticker: SBTAX, Class C Ticker: SBTCX, Class I Ticker: SBTIX).
Shareholders approved the merger, which became effective after the close of business on 12 December, 2014. Broadmark Asset Management, will serve as the sub-advisor for the Salient Broadmark Tactical Plus Fund.
"We believe that the Salient Broadmark Tactical Plus Fund offers a different approach to long/short equity investing; one that many financial advisors and their clients are seeking at this point in the market cycle," says Jeremy Radcliffe, President of Salient Partners. "As we continue to expand our suite of innovative liquid alternative funds, we look forward to working with Broadmark to provide investors a process-driven, defensively-managed, tactical fund."
Broadmark is a macro, top-down manager with a focus on investment risk management and absolute returns. The Fund is actively managed to reposition exposure to equity markets relative to macroeconomic shifts. Utilising their proprietary investment process, Broadmark assesses both qualitative and quantitative factors such as valuation, monetary policy, investor sentiment and momentum to identify investment opportunities. In addition to taking long positions in equity securities, the Fund may utilize leveraged investment techniques (eg, investments in futures and options) and short positions on target securities, providing net exposures that can range from 200 percent net long to 100 per cent net short.
"We are excited to partner with a leader in the liquid alternatives space," says Christopher J Guptill CIO and Co-CEO of Broadmark. "We look forward to working with Lee Partridge and his team in developing innovative investment strategies for the future."