Equinox Funds Aligns Focus Toward Mutual Fund Business – Announces Agreement of Sale of the Equinox Frontier Funds
PRINCETON, NJ – December 07, 2016 (GLOBE NEWSWIRE) – Equinox Fund Management, LLC (“Equinox”) — an innovator in alternative investments — today announces the agreement of sale of the Equinox Frontier Funds (“Frontier Funds”), a group of eight distinct commodity pool strategies (three of the Frontier Funds currently remain open for new investment). Wakefield Funds (“Wakefield”) based in Denver, CO, has agreed to purchase the Frontier Funds.
As part of the purchase agreement, Equinox will collaborate with Wakefield as they onboard the acquired products. “Our responsibility is to investors – that they are not disrupted by this transition. We are committed to the success of the Frontier Funds for the long-term. We have agreed to a six-year arrangement with Wakefield and will ensure the smooth transition of all of the accounting, operations, sales, and marketing activities. In addition, our Portfolio Management Team will remain actively involved. The bottom line is that we simply want to make the transition as seamless as possible and we’ll work with Wakefield to accomplish that,” said Robert J. Enck, President and Chief Executive Officer of Equinox Funds.
Following the sale of the Frontier Funds, the Equinox Funds product offerings will consist of nine mutual funds: two multi-strategy funds and seven single-strategy funds. “Our goal is to streamline our product offerings to focus on our mutual fund business. With that vision in mind, Patrick Hart, CEO of Wakefield, was the logical person to call. We have known and respected Mr. Hart for many years, stemming from his thirteen-year partnership at Hart-Bornhoft Group with one of our founders, Richard Bornhoft. Working with a team as experienced as Wakefield will serve our investors well,” Mr. Enck further explained.
Consummation of the agreement of sale is subject to applicable regulatory approval and completion of a related consent solicitation.
Equinox Funds offers investor-friendly alternative strategies designed to potentially reduce risk and enhance the returns of an overall portfolio. Founded in 2003, Equinox Funds has progressed from a specialist in multi-strategy managed futures investing to a comprehensive alternative investment provider. Through a collaborative research based culture, our mission is to bring the potential benefits of alternatives to institutions and individuals through a diverse lineup of investment strategies.
For more information on the Frontier Funds, please visit Wakefield Funds.