Altegris Amicably Secedes from Man Financial

"Our mission hasn't changed. What I've tried to do is build the kind of business in Altegris that I–as a high-net-worth investor–would want to go to invest in a hedge fund or managed futures program. I think investors want the type of boutique approach that we offer," he said.

Altegris, which acts as a consultant to investors, does not manage any funds of its own. The firm began with a futures focus, but in recent years has emphasized increasingly popular hedge fund alternatives. However, the group's managed futures efforts, which include research, proprietary software and asset raising, will continue at the independent firm.

With a staff of more than 25, the Altegris team also includes Robert Amedeo, chief operating officer, and Matthew Osborne, chief investment officer.

Mr. Amedeo is an attorney with 20-plus years experience in commodities and securities law who formerly served with the Securities and Exchange Commission. Mr. Osborne previously served as an investment manager for a New Zealand family office with US$200 million in alternatives. He was also research director for Mr. Sundt's group for the past five years.

Mr. Sundt forged his relationship with Man Financial more than a decade ago, when his futures commissions merchant (FCM) was acquired by Man.

Although Altegris is located just minutes from downtown San Diego, over the years the firm has built up a base of high-net-worth and institutional clients based all around the globe, rather than those in just Southern California, according to Mr. Sundt.