Scottsdale, AZ-based Longboard Asset Management has launched the Longboard Managed Futures Strategy Fund (WAVIX), a trend following offering.
The fund will bet on a diversified set of commodities including energies, interest rates, grains, meats, soft commodities (such as sugar, coffee, and cocoa), currencies, and metals sectors; and will also be diversified across North America, Asia, Europe, Australia, and potentially Africa and South America, according to a filing.
Its Class I shares charge a management fee of 299 basis points. Horizon Cash Management serves as the fund’s sub-adviser.
“After experiencing years of market turmoil, we believe financial advisors have a real need for alternative forms of portfolio diversification for their clients,” stated Cole Wilcox, chief executive officer and chief investment officer of Longboard.
“Until now there have been significant structural barriers for investment advisors looking to obtain efficient access to the benefits of managed futures.”
Longboard was co-founded by Wilcox and Eric Crittenden, Director of Research. They previously worked together at Blackstar Funds, a managed futures shop, before founding Longboard.