HAUPPAUGE, N.Y., Oct. 11, 2011 /PRNewswire/ -- Gemini Fund Services LLC ("Gemini"), an engaged partner to independent advisors as a provider of comprehensive, pooled investment solutions, is pleased to announce that three funds have been added to its Northern Lights Fund Trust I ("NLFT I") shared mutual fund trust.
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Ascendant Advisors LLC has launched the Ascendant National Resources Fund (NRGAX/NRGCX/NRGIX), Ascendant Multi-Cap Equity Fund (AEQAX/AEQCX/AEQIX) and Ascendant Balanced Fund (ATBAX/ATBTX/ATBIX). Founded in 1970, Ascendant has designed these funds to provide mutual fund investors access to Ascendant's investment strategies, which have previously only been available to institutional investors. Gemini will work closely with Ascendant to define and implement the funds' distribution and marketing plans.
"Gemini is pleased to begin partnering with another advisor on developing pooled investment solutions to meet its specific vision and needs," said Andrew Rogers, President of Gemini. "Our prediction that more advisors will seek diversification and risk protection via alternative investment products has been proven to be true. Advisors like Ascendant are concerned about rising business expenses and levels of regulation, and they look to Gemini to help raise assets and manage portfolios while reducing the costs of bringing their products to market."
NLFT I is Gemini's largest shared trust, comprised of more than 80 funds and over $6.6 billion in assets. That trust's assets doubled last year and increased by another 20 percent in the first quarter of 2011.
"Regardless of your outlook on monetary policy, we believe that the single most important factor facing individual and institutional investors alike is diversification," said Paul Wigdor, Managing Director of Ascendant Funds. "History has shown that on a risk-adjusted basis, broadly diversified portfolios generally will outperform more concentrated ones. We are confident that Gemini will allow us to reach our goals and make it easier for us to compete and earn profits in today's more complicated mutual fund market."
The Ascendant Natural Resource Fund will seek long-term out performance of the S&P North American Natural Resource Sector Index by applying the Ascendant investment approach to equities involved in natural resource industries, including oil and gas, precious metals, agriculture and other "hard asset" commodities. The Ascendant Multi-Cap Equity Fund seeks long-term outperformance of the S&P 1500 index and will allocate to Ascendant's Large Cap, Small-Mid Cap, Equity Income and Natural Resource strategies.