Turner Spectrum will be the first mutual fund in the Turner funds family to offer investors exposure to alternative strategies.

"The Turner Spectrum Fund provides the diversification benefits of a multi-manager approach by drawing on six long/short strategies managed by various teams within Turner," says Matthew D. Glaser, director of alternative strategies and principal at Turner. "Our goal is to capture in a single fund the best of Turner's alternative-investment strategies. The fund is designed to be a lower volatility alternative to other equity funds and to offer the daily pricing, liquidity, and full transparency that investors expect in a traditional mutual fund structure."

The fund will seek to capture alpha, reduce volatility, and preserve capital in declining markets by investing in six long/short strategies.

Although each strategy's weighting in the fund will vary as a result of performance, Turner intends to rebalance each weighting equally at the end of every year.

The institutional class shares of the Turner Spectrum Fund will require a minimum initial investment of USD100,000, with an expense ratio initially capped at 1.95 per cent. The investor class shares will be available with a minimum initial investment of USD2,500 and an expense ratio initially capped at 2.20 per cent. The Turner Spectrum Fund will not charge investors a performance fee.