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Tuesday, September 28, 2021

Legacy Launches MBF Absolute Return Fund For Individual Investors


Date: Thursday, February 13, 2003

First Asset Advisory Services today announced the launch of the Legacy MBF Absolute Return Fund. This fund is the latest addition to Legacy's managed account program, offering institutional-class solutions for affluent and high net worth individual investors. Legacy, launched by First Asset in March of 2002, is a multi-manager investment platform designed to provide independent advisors with institutional-class investment solutions to meet the diverse needs of today's high net worth clients. Legacy provides a wide range of investment styles through managers who meet rigorous institutional-level requirements. Advisors are able to tailor portfolios to each investor's special needs and maintain an integral role in the asset allocation process. Legacy also provides advisors with industry-leading performance and tracking capabilities. The MBF Absolute Return Fund gives individual investors access to the Montrusco Bolton Focus Group Global Fund, a hedge fund of funds previously only available to institutional investors. The MBF Fund shares many attributes with all Legacy investment mandates, such as top-notch sponsorship, transparency, and clarity of investment strategy. These common strengths and the MBF Fund's conservative investment philosophy are the foundation of its success with institutional investors, where it has already attracted assets of $120 million since its launch in February of 2002. Michael Simonetta, President & CEO of First Asset Management announced, "Our goal with Legacy was to create absolutely the best program for advisors to tailor portfolios to the challenging needs of the affluent and high net worth investor. These clients demand custom investment solutions that help them thrive in today's volatile markets while keeping the focus on their long-term objectives. Legacy makes that happen." Mr. Simonetta added, "The Legacy MBF Fund shows our strength in taking a thriving institutional product and making it available to individual investors. We expect the MBF Fund to be received by advisors and their clients with the same enthusiasm it has elicited from institutional investors."The Legacy MBF Fund is designed to enhance portfolio returns, while reducing risk on an ongoing basis. The fund's low correlation to equity and fixed income markets suits high net worth investors who seek a conservative element in their portfolio. The fund is an attractive alternative to switching to the bond market now as interest rates may rise as the economy improves. The fund is jointly managed by the Focus Group, a leading alternative asset manager with over $1 billion dollars (US) under management and Montrusco Bolton, a long-established Canadian investment manager with $6 billion of assets under management for institutional and private clients. The fund is designed to produce absolute returns of 6% to 12% per annum over the long term with low volatility. "The Legacy MBF Fund should be a key component of any high net worth investor's optimized portfolio," said Lisa Langley, President, First Asset Advisory Services. "We believe it's right for today's uncertain markets because it provides good risk adjusted returns with a focus on capital preservation," she added. The Legacy MBF Fund uses a multi-manager approach, combining some of the world's most talented hedge fund money managers. Mr. Simonetta said, "Conceptually, our strategy is not very complex -together with our partners, we deliver a broad range of institutional-class investments to advisors who want to build customized investment solutions for affluent and high net worth clients. The MBF Fund is just one more in a great line-up of solutions we can offer."