The Board of Directors of Kinetics Mutual Funds last month approved an overhaul of the Water Infrastructure Fund (KWINX).

Specifically, the fund will change its name to the Alternative Income Fund and will hold a diversified portfolio of fixed income and equity securities, according to a filing. The fund can also all of its assets in fixed income, derivatives, stocks and cash. The Water fund formerly betted on U.S. and foreign water infrastructure concerns.

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