A Vancouver-based company has announced the launch of a new investment product.
AlphaDelta Funds has revealed details of its third mutual fund, known as the AlphaDelta Tactical Growth Class Fund. According to a statement from the company, the fund is designed to help the firm on its mission to “discover great investors” for Canadians.
The AlphaDelta Tactical Growth Class Fund is a non-traditional investment fund that seeks to provide exposure to mid-to-larger capitalization companies in North America. It will be managed by 23 year investment industry veteran Barry Hirowatari of Aventine Management Group who employs a proprietary tactical momentum strategy for selecting securities, as well as for setting sector and asset class weights.
According to Victor Therrien, the CEO of AlphaData, the arrival of Hirowatari is a huge positive for the firm.
“We are really excited to be adding Barry and the fund he sub-advises to our line-up,” said Victor Therrien, CEO of AlphaDelta. “That’s the real coup here – a proven manager, a proven strategy and no one else is offering it as a mutual fund choice for Canadian investors.”
The new fund joins two previous launches from AlphaDelta: the AlphaDelta Canadian Prosperity Class Fund, launched February 2015 and sub-advised by Chris Page of Laurus Investment Counsel, that promptly out performed its benchmark by more than 11 per cent in its first 12 months; and the AlphaDelta Growth of Dividend Income Class Fund, sub-advised by award-winning Dr. John Schmitz, CFA of SciVest Capital Management. Dr. Schmitz’s focus is on investments that provide a “growing” annual dividend income stream opposed to the typically constrained fixed income investment.
The company has also revealed it has plans for at least three more launches during the next two years.