Rye, New York-based Tremont Advisers has entered into an agreement with Lockwood Financial Services to provide alternative investment products. Lockwood, a Malvern, Pennsylvania-based firm that specialises in providing individually managed account tools and services to independent financial advisors, will offer access to Tremont’s new American Masters Series of funds.
According to Cerulli Associates, Lockwood is the largest third-party provider of consultant wrap programmes. “We are very pleased to begin this new relationship with Lockwood, which signals the growing interest by financial intermediaries in alternative investments,” says Robert Schulman, president of Tremont. “It is our
expectation to develop a full line of hedge funds under the American Masters Series label that will provide investors with access to skilled and successful managers who typically have minimum investments substantially larger than those of the American Masters funds.”
The American Masters Series, whose minimum investment is $250,000, is being developed to provide access to a variety of managers who typically require minimum investments of $2 million or higher. The first fund – American Masters Market Neutral Fund, LP – focuses on market neutral strategies that feature the lower-volatility traits of bonds, but with some of the upside of equity investments. Other funds with will be developed later in the year.