Alternative investments provider Altegris has allocated assets in its Altegris Macro Strategy Fund to the global macro strategies of 300 North Capital and Willowbridge Associates.
The Altegris Macro Strategy Fund seeks to generate absolute returns from income and capital appreciation regardless of market direction.
In keeping with Altegris’ mission to find best-of-breed alternative investment managers for clients, this actively managed mutual fund attempts to reach its investment objective primarily through exposure to global macro strategies targeting the commodity and financial futures markets and other global financial markets.
"Exposure to 300 North Capital and Willowbridge Associates will further enable the Altegris Macro Strategy Fund to seek absolute returns for investors in all market conditions," says Jon Sundt (pictured), president and chief executive of Altegris. "At a time when many investors are looking to obtain more exposure to macro and other alternative strategies, Altegris’ thorough research and investment processes make it easier for investors to achieve potential diversification with lower correlation to their core equity portfolio."
Pasadena, California-based 300 North Capital, an independently owned, institutional investment manager with over USD700m under management as of March 2013, launched its discretionary global macro strategy in August 2010 to provide more flexibility and liquidity in the post-2008 investment environment. The tactically traded strategy emphasises risk management and combines systematic business cycle analysis with fundamental research, and has generated compelling returns with low volatility since its inception. The strategy invests in global equities, commodities, currencies, and fixed income – all executed through global futures contracts. The strategy takes long and short positions across these asset classes and has historically maintained an equity bias.
Plainsboro, New Jersey-based Willowbridge, a commodity trading adviser which was established in 1988 and oversaw USD1.7bn in nominal client and proprietary assets under management as of March 2013, combines two different investment approaches to create its global macro portfolio. These approaches use trades on one hand that have momentum and strong technicals and on the other hand that can be entered at a good value relative to the market and are backed by strong fundamental data. After the portfolio managers discuss their separate perspectives, only those investments that are agreed-upon are added to their global macro portfolio. The managers reduce or exit a position when one believes it to be too risky or may potentially generate diminished returns.
"Like all of our funds, the Altegris Macro Strategy Fund is composed of a variety of what we believe to be proven strategies within a single, actively managed fund," says Sundt. "Our singular focus on alternatives uniquely positions us to act as a ‘talent scout’ for alternative managers and offer competitive and highly regarded strategies from across the spectrum of asset classes to advisors and investors."
