SOURCE: Gemini Fund Services, LLC

December 16, 2009 12:16 ET

Gemini Fund Services Brings Successful Hedged Mutual Funds to Market

Opportunity Is Growing for New Entrants With Proven Strategies

HAUPPAUGE, NY--(Marketwire - December 16, 2009) - Gemini Fund Services, LLC (Gemini), an engaged partner to independent advisers as a provider of comprehensive, pooled investment solutions, is enabling hedge fund managers to capitalize on today's market opportunities by converting their alternative strategies into mutual funds. These conversion services are a growing part of Gemini's broad turnkey offering for hedge funds.

"As more financial advisers look beyond traditional stock and bond investments for client portfolios, tactical hedge strategies are increasingly appealing in the retail space," said Andrew Rogers, President of Gemini. "Alternative investment managers have an opportunity today to apply their hedge strategies inside a mutual fund. Gemini is an experienced partner in facilitating the launch of hedge fund-like mutual funds, and we are excited to be positioning for ongoing growth in this realm."

Morningstar currently tracks less than 150 hedged mutual funds, indicating an emerging opportunity for new entrants with proven strategies. Gemini has facilitated the creation of a series of hedged mutual funds and is an expert in creating pooled investment solutions, including alternative funds, mutual funds, closed-end funds, collective funds, and variable annuities.

Lacerte Capital Advisers, L.L.C., a large-cap equity investment manager that specializes in using put options to try and limit risk and possibly enhance return, recently launched the Lacerte Guardian Fund (LGFIX, LGFRX) with Gemini's assistance. "Lacerte's mission is to offer prudent exposure to the equity markets, with a long-only and unleveraged strategy, and Gemini was our partner of choice in bringing this strategy to financial advisers through the mutual fund structure," said Doug Wynn, President, Lacerte Capital Advisers, L.L.C. "Gemini has extensive experience in dealing with hedge fund conversions. Its servicing of our transition has been outstanding; it truly offers a committed team that is solution-oriented and proactively engaged in helping us grow our fund."

Bull Path Capital Management LLC launched the Bull Path Long Short Fund (BPFIX) with Gemini's support earlier in 2009. "Bull Path Capital Management has been in the alternative space since our founding in 2002 as a specialist in long-short equity strategies. We chose Gemini because it offered the plug-and-play solution, as well as the cost effectiveness and legal expertise that we were seeking," said Chris Einhorn, Business Development and Investor Relations, Bull Path Capital Management. "Gemini provided all the features and capabilities of a large investment service provider but its personalized service and focus on our needs is what made them a true partner in the conversion process."

Rady Asset Management, which specializes in long-only and long-short equities strategies, partnered with Gemini for the launch of both the Rady Opportunistic Value Fund (ROVIX) and the Rady Contrarian Long/Short Fund (RADIX). "We chose Gemini because of its reputation for being at the forefront of the hedge fund conversion space," said Jordan Greenhouse, Chief Operating Officer, Rady Asset Management. "Gemini supported us soup-to-nuts, from the legal side to compliance. Their counsel enabled us to feel comfortable throughout what could have otherwise been a daunting process."

In addition to hedge fund conversions, Gemini provides a comprehensive hedge fund services offering to meet all the needs of clients. This includes fund administration, compliance and regulatory advisory services. Gemini provides services for offshore funds as well as domestic partnerships. Gemini administers a variety of strategies, ranging from distressed debt and asset backed securities, to foreign equity and private placements. Gemini also services hedge funds that directly purchase mortgage loans and properties, enabling the funds to serve as lenders amid tight credit conditions.

"Gemini's ramped up hedge fund offering is a direct response to the growing market demand for a complete turnkey solution that enables managers to bring investment vehicles to market," Rogers continued. "As retail interest in alternatives grows, and the regulatory landscape for hedge funds continues to evolve, Gemini stands ready to apply our years of industry knowledge and insight to finding creative solutions at the best cost to our hedge fund clients."

To request more information please contact Eddie Lund, National Sales Director: Registered Products, at 402.493.4603 x7176 or eddie.lund@geminifund.com or Jeremy Condie, National Sales Director: Alternative Funds, at 973.543.2748 or jeremy.condie@geminifund.com.

For media inquiries, please contact Carol Graumann at 973.732.3521 or carol@jcpublicrelations.com.

About Gemini Fund Services, LLC www.geminifund.com

Gemini Fund Services, LLC, provides comprehensive, pooled investment solutions as an engaged partner to independent advisers. Gemini serves as a strategic partner and resource to advisers that want to bring their own, unique investment vehicles to market, including mutual funds, hedge funds, and alternative investments such as collective investment trusts. As a full-service firm, Gemini provides the administration, accounting, and technology that advisers need in order to launch and market successful products. With over 25 years of experience creating and servicing mutual funds, Gemini brings years of industry knowledge and insight to help advisers achieve the vision of their product and deliver the most extensive range of turnkey solutions to clients.

© 2009 Morningstar, Inc. All rights reserved. Morningstar is an independent provider of financial information. Morningstar does not endorse any Broker/dealer, financial planner, or fund company.

Mutual funds involve risk including the possible loss of principal Investors should carefully consider the investment objectives, risks, charges and expenses of The Lacerte Guardian Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 877-738-9888. The prospectus should be read carefully before investing. The Lacerte Guardian Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

Mutual funds involve risk including possible loss of principal. Investors should carefully consider the investment objectives, risks, charges and expenses of the Bull Path Funds. Mutual Funds involve risk including possible loss of principal. This and other information about the Fund is contained in the prospectus, which can be obtained at www.bullpathfunds.com or by calling 888-899-2726. The prospectus should be read carefully before investing. The Bull Path Funds are distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

Mutual Funds involve risk including possible loss of principal. Investors should carefully consider the investment objectives, risks, charges and expenses of the Rady Opportunistic Value Fund and the Rady Contrarian Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 877-839-7239. The prospectus should be read carefully before investing. The Rady Opportunistic Value Fund and the Rady Contrarian Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

1455-NLD-12/11/2009

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