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Alternative Market Briefing

CAIS, Citi and Atlantic Fund Services partner on a listed alternatives solution

Friday, February 07, 2014

Bailey McCann, Opalesque New York:

CAIS, Citi and Atlantic Fund Services have collaborated to create ALTX Trust, the first series trust designed to provide a turnkey solution for hedge fund managers that seek to launch '40 Act mutual funds. The solution is designed to help hedge fund managers launch and distribute liquid alternatives by outsourcing a significant portion of the workflow in bringing those products to market. CAIS already provides a platform to managers for a variety of services, ALTX Trust marks the latest in a growing array of strategic alliances and product offerings.

As with all funds listed on CAIS, Mercer will conduct strategy due diligence, ongoing monitoring and provide each new fund with a rating. Atlantic Fund Services will provide fund administration, governance and compliance support, while Citi's Investor Services division will be the exclusive global custodian for the trust, and will serve as the preferred prime broker to newly launched alternative mutual funds.

"We wanted to work with Citi because they have the unique ability to offer both financing and custody, which is important for what we are doing. They have already been involved in liquid alternatives, and the also have the prime brokerage expertise," Rafay H. Farooqui, co-founder and President of CAIS tells Opalesque.

Citi recently estimated that assets held by U.S. alternative retail mutual funds increased from $95bn in 2008 to $250bn in Q4 of 2013.

Since the ......................

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