WEST PALM BEACH,FL (HEDGECO.NET) – Efficient Capital Management announced it is launching a new CTA fund of hedge funds vehicle for retail investors according to a news release from the company. Thenew product, the Efficient Diversified LLC fund, will be launched in two months according to a company principal, Jon Stein.
Earlier in February, Efficient Capital launched the Efficient Access Fund LLC, which is a highly leveraged version of the fund. An offshore version of the fund, the Efficient Diversified Fund SPC, was also launched earlier in January.
According to Stein, each of the three CTA funds has its separate risk and leverage characteristics; however the three new products are organized under one umbrella through a legal structure in Cayman Islands. Stein added that �Our funds, like most futures funds, are designed to be non-correlated with major stock indexes.�
The company founder and Chief executive officer of Efficient Capital Ernest Jaffarian in his comments about the new funds said, �We are pleased to finally offer a vehicle to allow investment by a smaller investor in a large, globally diversified portfolio.� According to the released statements, about US$95 million have been invested in the two strategies already launched.
The new CTA funds will be investing in assets such as futures derivatives, and various assets other than stocks according to Stein. The CTA funds will be managed through the utilization of 19 managers.
Fee structures for the funds are established at 0.9% for management fee, and additional 12% for performance fees according to Stein. Like all other CTA portfolios, the new Efficient Capital funds are registered with the Commodity Futures Trading Commission [CFTC].
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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