Meritage Partners With Behringer For Distribution Of The Insignia Macro Fund
By DailyAlts Staff The strategic agreement between Behringer Securities and Meritage Capital is starting to bear fruit. Back in May, the two firms announced an agreement to develop, manage, and distribute specialized, multi-strategy investment funds intended to address the challenges presented by market volatility. On July 20, Behringer formally announced that it will be distributing the Insignia Macro Fund (MUTF: IGMFX ), an open-end mutual fund managed by Meritage. The Insignia Macro Fund initially debuted on December 31, 2013. It employs global-macro investment strategies in pursuit of attractive long-term risk-adjusted returns. The multi-manager fund is unique among global macro mutual-fund offerings in that it allocates to “discretionary focused managers.” Per the fund’s most recent fact sheet date 4/30/15, the $64 million fund employed seven underlying managers in the following weights: 16.53% – H2O Asset Management Discretionary Macro | Fundamental 15.85% – Willowbridge Associates Discretionary Macro | Fundamental 14.91% – The Cambridge Strategy Quantitative | Fundamental & Technical Models 14.80% – QMS Capital Management Quantitative | Fundamental & Technical Models 14.77% – Tlaloc Capital Discretionary Macro | Fundamental 13.92% – Crabel Capital Management Quantitative | Short Term 9.22% – Blackwater Capital Management Trend Follower | Pattern Recognition “Historically, global macro strategies have shown higher long-term returns with lower volatility than developed equity markets – and little correlation to stocks, bonds or other investments,” said Meritage CEO Alex Smith, in a recent statement. “We are pleased that the Fund will be distributed on Behringer Securities’ platform, and we look forward to our continued partnership.” In the same statement, Behringer CEO Frank Muller said the addition of the Insignia Macro Fund to Behringer’s platform indicates Behringer’s commitment to providing financial advisors with access to “nimble, entrepreneurial managers, strategies and structures to build better portfolios.” He also said the fund helps investors “identify portfolio diversifiers” and preserve their wealth. The past year has been both hot and cold for global macro funds, and the Insignia Macro Fund is no exception. Its A-class shares returned 9.31% for the year ending June 30, ranking in the top 42% of the funds in its Morningstar category (Managed Futures). But for the final six months of that period, the fund returned just 0.66% – and yet, this was enough for it to rank in the top 24% of the category. The Insignia Macro Fund is also available in institutional-class shares (MUTF: IGMLX ). Class A shares have a net-expense ratio of 2.00%, while the institutional shares carry fees of 1.75%. The minimum initial investment for the A shares is $2,500; while the minimum for institutional shares is 100 times higher, at $250,000. For more information, visit insigniafunds.com .