Creststreet Mutual Funds Ltd. has announced that its alternative energy fund will be closed to new subscriptions once it has reached $75 million in net assets.

By limiting the size of the fund, which presently has approximately $24 million in assets, the manager is seeking to maintain flexibility in its investment strategies, Creststreet said.

The Creststreet Alternative Energy Fund has performed well through the difficult market conditions, according to the company. As of Dec. 31, it had achieved a one-year return of 142%, a 6-month return of 33.6% and 3-month return of 10.7%.

The alternative energy fund invests primarily in securities of companies whose businesses exploit opportunities to generate energy beyond North America’s traditional dependence on high carbon emitting sources of supply. It seeks investments with strong current earnings potential and above average near term growth, while conservatively managing value at risk through exposure to large and established business that fall within the fund’s mandate.

The fund is now offering series B and series F shares in addition to the series A shares that are currently available.

The series A shares pay a negotiable front load commission of 0% to 5% and an annual trailer fee of 0.5%. The series B shares pay a negotiable front load commission of 0% to 5% and an annual trailer fee of 1%. The series F shares pay no commission or trailer fees and are only available to investors who have entered into a fee based program through their dealer.

All Creststreet classes are qualified investments for registered tax plans.

IE