Fund administrator Gemini Fund Services has new leadership in place, new headquarters in New York, and is making strides in the alternative mutual fund and exchange-traded fund arenas. The firm in July promoted Andrew Rogers to the position of chief executive officer and Kevin Wolf as president.
In an interview with Money Management Executive, Rogers told MME that the firm is looking to ramp up its latest alternative mutual fund offering, Two Roads Shared Trust, which launched in April to help hedge fund managers start alternative mutual funds.
“We expect the Two Roads trust to be effective with the Securities and Exchange Commission over the next month or so and we have three new advisors in that trust (Alternative Avenue Fund, Belvedere Alternative Income Fund and LJM Preservation and Growth Fund) who will be launching funds,” said Rogers.
“Our hope is to have approximately 25 funds in this trust and at that point we’ll do a soft close, which means we won’t allow new advisors into the trust. We’re hoping within a year we can close this trust to new advisors. We have plenty of demand to launch advisors on this trust. It’s just a matter of who is potentially the best advisors for the trust.”
Rogers said the firm is also looking to boost its Northern Lights ETF Trust, which launched on May 1 with the Arrow Dow Jones Global Yield ETF (GLYD), with more funds. “We have the expectations of within a year or so to launch many new ETFs, mainly niche products and alternative in nature as opposed to S&P 500-type funds. Some of these models may include index-type models but they’re definitely alternative in nature,” he said.
“We’re very excited about that and we think we can really capitalize on new markets with these ETFs. We’re hoping to add about four to five funds a year and the max here will be 25 funds as well.”
(Please see the upcoming 09-17-12 issue of MME for the interview in its entirety)