Select launches futures fund

Alternative investment group Select Asset Management has launched a registered managed futures fund through its relationship with Aspect Capital.

The fund, the Select Futures Fund, will provide retail investors with access to a portfolio of more than 80 global financial, currency and commodity futures markets.

Select Asset Management managing director Brendan Foley said the fund looks to profit from “directional moves” in the market, whether the market is going up or down.

“While investors have had limited access to managed futures as an alternative investment in the Australian marketplace, this has generally been via higher fee capital guaranteed products or listed investment companies, which can trade at a discount to their net asset values, whereas the Futures Fund is a registered managed fund offering pure exposure to this investment area and providing investors with weekly liquidity at full net asset value,” Foley said.

Commenting on the new fund, Aspect Capital chief executive Anthony Todd said: “The launch of this fund means we can further harness our combined strengths and experience to the benefit of our clients in Australia.”

The Futures Fund will be available to investors through retail master trust and wrap platforms as well as directly with a minimum investment of $25,000.

Select Asset Management’s total funds under management in its registered schemes is more than A$650 million. Aspect Capital has $4.6 billion in funds under management.