Altegris Launches Long/Short Fund
Altegris Advisors has launched the Altegris Equity Long Short Fund (ELSAX) to bet on the equity markets, predominantly US stocks.
The fund will allocate its assets among four sub-advisers, including Visium Asset Management; Harvest Capital Strategies; OMT Capital Management; and Harvest Capital.
The fund will charge 275 basis points for the management fee.
“We believe many long/short funds are managed by long-only managers who’ve only recently started shorting,” said Jon Sundt, President and CEO of Altegris and Co-Portfolio Manager of the Altegris Family of Mutual Funds in a statement.
“The managers employed by the Altegris Equity Long Short Fund have experience short selling selected stocks, as opposed to simply hedging via broad market indices.”