La Jolla, Calif.-based Altegris is looking to beef up its managed futures mutual fund, dubbed the Altegris Managed Futures Strategy Fund, a fund of funds, by adding two more managers to its stable.

The fund, which currently boasts six managers including Winton Capital Management, Welton Investment Corporation and most recently, Lynx Asset Management, was launched in August 2010 and currently boasts more than $1 billion in assets under management.

Jon Sundt, president and chief executive officer of Altegris told Money Management Executive that advisors’ demand for the fund has been “spectacular” because advisors recognize the underlying talent. “The fund really hasn’t made any money yet because last year was a bad year for managed futures so it is down 3% since inception. But managed futures is a long-term hold and we’re very excited about the prospects for that fund,” he said.

Sundt added that the firm is currently in negotiations with two managers and “it looks like we’re going to get two world-class managers out of Europe added to that product within the next two months. We don’t think’ we’re going to have more than eight managers in this product.”

He also mentioned that the firm has filed with the Securities & Exchange Commission to launch a long/short equity fund but declined to comment further on the proposed offering.

Altegris currently has approximately $3.36 billion in client assets, and provides clearing services to $774 million in institutional client assets.

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