FrontierAlt Funds Management Ltd. today introduced the frontierAlt Opportunistic Global Fund, previously named frontierAlt All Terrain World Fund.

In January 2008, the frontierAlt All Terrain Canada Fund was merged into the frontierAlt All Terrain World Fund. Avenue Investment Management acted as portfolio manager on both mutual funds.

While the fund retains the same investment objective as the frontierAlt All Terrain World Fund — to obtain superior long-term capital growth — the fund’s investment strategies have been broadened. The portfolio manager, Avenue Investment Management, will employ a deep value/contrarian investment style. In addition, the fund will now use short selling and pair trading strategies to take advantage of opportunities in the market. While the portfolio will be comprised principally of equity securities, select high-yield debt plays may be added to the portfolio.

“These strategies allow the managers to be opportunistic — to take advantage of situations that can potentially generate additional returns,” says Kurankye Sekyi-Otu, president, frontierAlt. “The fund will continue to employ a deep value style for equities and will look at debt securities that the managers deem to be mispriced. We believe these new strategies play well to the strengths of the team at Avenue, providing investors a unique mutual fund given the current equity market environment.”

The fund will continue to be managed by Paul Harris, Paul Gardner and Bill Harris of Avenue Investment Management.

Based in Toronto, frontierAlt specializes in the manufacture and distribution of structured products, flow-through limited partnerships and mutual funds.