Happy holidays for Gemini Fund Services, which has announced a major achievement for its Northern Lights shared trusts.

The Hauppauge, N.Y., firm's trusts — which include Northern Lights Fund Trust I, II, III, Northern Lights ETF Trust and Northern Lights Variable Fund Trust — have collectively surpassed $10 billion in assets under administration.

The trusts consist of independent small- and mid-sized funds managed by separated investment advisors. In the past year, Gemini has brought more than 50 new funds to market.

"At a time when investors are showing strong interest in alternative investment vehicles, Gemini’s shared trusts provide advisors with a cost-effective way to bring these funds to market," said chief executive officer Andrew Rogers in a press release. "With our assistance, many of our clients have grown to such an extent that they have brought multiple funds to market."

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