LA JOLLA, Calif., May 17, 2012 /PRNewswire/ -- Altegris Advisors ( www.altegris.com) is pleased to announce the launch of the Altegris Equity Long Short Fund (Ticker: ELSAX). This Fund aims to generate and capture alpha on the long and short side of the equity markets, predominantly US stocks. As a strategy, long/short equity has historically withstood a number of major market scenarios, which may be attributed to its typically flexible nature.
In fact since 1990, long/short equity represented by HFRI Equity Hedge Total Index gained 1,339%, while US stocks represented by S&P 500 Total Return Index gained 469%. It is important to note that past performance is not indicative of future results. The referenced indices are for general market comparisons and are not meant to represent the Fund which is new and has no performance history. Of course, there is no guarantee that any investment will achieve its objectives, generate profits or avoid losses.
"We believe many long/short funds are managed by long-only managers who've only recently started shorting," said Jon Sundt, President and CEO of Altegris and Co-Portfolio Manager of the Altegris Family of Mutual Funds. "We were methodical in our preparation for launching this Fund. We launched this Fund only after we had identified and selected what in our opinion are best of breed managers with verifiable long and short strategy track records. The managers employed by the Altegris Equity Long Short Fund have experience short selling selected stocks, as opposed to simply hedging via broad market indices." This approach is consistent with the Altegris mission of searching the world to identify the best alternative managers and deliver them to our professional and individual investors.
The Fund seeks to achieve long-term capital appreciation with less volatility and moderate correlation to major equity market indices. The Altegris Equity Long Short Fund is designed to profit by investing in the securities of companies believed to be undervalued or which may offer high growth opportunities while at the same time selling short the securities of companies believed to be overvalued or which are expected to experience declining growth.
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