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USA Mutuals converts hedge fund to mutual fund

Thursday, October 08, 2015
Opalesque Industry Update - USA Mutuals announced the launch of its newest mutual fund, the USA Mutuals/WaveFront Hedged Emerging Markets Fund (WAVFX). The Fund is a conversion of its hedge fund predecessor, managed by WaveFront Capital Management, and will maintain the same investment management team and quantitative-based investment strategy in its mutual fund form. This fund launch represents USA Mutuals’ first hedge fund conversion.

“We are proud to bring the USA Mutuals/WaveFront Hedged Emerging Markets Fund into the USA Mutuals family,” commented Jerry Szilagyi, chairman of USA Mutuals. “WaveFront’s investment management team, in conjunction with the strong performance of the hedge fund, made this a prime choice for our first conversion. With this Fund, retail investors now have access to WaveFront’s distinct emerging markets strategy.”

WAVFX combines a quantitative equity strategy with a systematic index options overlay and seeks to capture the ‘true’ growth potential in the broader emerging markets, while capitalizing on persistent market opportunities that offer repeatable and uncorrelated sources of return. This strategy has enabled the Fund to consistently outperform its benchmark, the MSCI Emerging Markets Total Return Index, while avoiding excessive concentration risk and reducing volatility.

“We are delighted to partner with USA Mutuals to provide our strategy in a mutual fund product,” said Dr. Burton Malkiel, WaveFront’s Chairman. “Particularly in the context of current emerging market valuations, we believe that this product provides investors with timely exposure to the long-term growth potential of this dynamic asset class.”

Press release

www.usamutuals.com

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