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Alternative Market Briefing

Gemini Fund Services partners with KKM Financial on two liquid alts funds

Friday, June 13, 2014

Bailey McCann, Opalesque New York:

Gemini Fund Services has partnered with KKM financial on the launch of two new liquid alternative funds. The KKM ARMOR Fund and KKM U.S. Equity ARMOR Fund are available through Northern Lights Fund Trust II.

The Armor Fund, designed as a portfolio hedging tool, attempts to achieve its goals by primarily investing in long and short VIX futures contracts, and long and short call and put options contracts trading on the S&P 500 Index and the Chicago Board Options Exchange Volatility Index (VIX).

The investment vehicle's ARMOR Index, calculated and distributed by the Chicago Board Options Exchange, searches for relative value along the VIX futures curve, seeking to capture 70 percent of upside VIX movements and 30 percent of downside VIX movements.

The KKM U.S. Equity ARMOR Fund utilizes a total return strategy and also incorporates elements of the KKM ARMOR Fund's tail-risk strategy. It seeks to meet its objective by primarily investing in large-cap U.S. stocks, VIX futures contracts, and long and short call and put options on VIX. The Fund's portfolio is tied to the U.S. Equity ARMOR Index, which is designed to create a portfolio consisting of large-cap S&P 500 stocks (82 percent) and holdings in the ARMOR Index (18 percent).

Gemini provided consulting, guided the formation and launch process, and has since transitioned the funds to the operations teams. Gemini does all of the back office work involved with th......................

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