Hundredfold finalises reorganisation 06 October 2011Virginia Beach Reporter: Justin Lawson
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Hundredfold Select Funds has finalised the reorganization of the former Direxion Spectrum Funds as Hundredfold Select Funds, effective October 3, 2011.
Hundredfold Advisors, LLC will continue to act as Subadvisor to the Funds. Advisors Preferred, LLC will act as investment advisor, while Ceros Financial Services, Inc. will act as distributor and Gemini Fund Services, LLC will be the transfer agent. Gemini Fund Services will also provide fund administration and accounting services.
"We're excited about this change for the Funds," said Mary Collins, managing member of Hundredfold Advisors. "There are many benefits for the shareholders to be realized."
Hundredfold Advisors, which has served as Subadvisor of the Funds since their inception in 2004, employs a wide range of alternative, technical and defensive investment strategies in the management of the Funds. These strategies are integral to the success of the Funds and will remain. In addition, Ralph J. Doudera, portfolio manager of Hundredfold Advisors, will continue as the manager.
Doudera adds, "In difficult markets, being active in one's approach to investing allows a greater level of flexibility than traditional buy-and-hold strategies."
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