Altegris Announces Adviser Share Class
Altegris announced Tuesday the launch of a share class designed exclusively for registered investment advisers (RIAs).
The “R” class shares are targeted at RIAS looking to diversify clients’ portfolios with private-placement hedge funds.
“Altegris developed the special ‘R’ share class in response to demand from many of our RIA clients,” noted Dick Pfister, global head of sales and consulting for Altegris. “The ‘R’ shares will have a general partner fee of 0.50% per annum.” Participation is limited to clients of advisers in the RIA Referral Program who qualify and are suitable for investment in an Altegris private-placement hedge fund, and additionally meet the requirements of the “R” share class specific to each fund.
The “R” share class will be available to four of the firm’s private-placement funds starting May 1. Altegris says the launch is the first of several it plans to make over the next few months, according to Jon Sundt, president and chief executive of Altegris.