Gemini announces third shared trust, Northern Lights Fund Trust III

By Toni Weeks

San Diego, March 21 - Gemini Fund Services, LLC announced it has launched its third shared mutual fund trust as a response to increased demand for assistance from small- and mid-sized funds.

The Northern Lights Fund Trust III, like its two predecessors, is a shared mutual fund trust composed of independent and separately managed funds. The original Northern Lights Fund Trust is now comprised of 83 funds, and Northern Lights Fund Trust II, which was launched in June 2011, includes 12 funds.

According to a press release, advisors who join the new trust will benefit from economies of scale, regulatory compliance and board oversight, fund sales and operational efficiency that they would not be able to achieve on their own. Membership will also entitle those advisers to assistance with their distribution and marketing plans and introductions to brokers/dealers.

The new trust's board is composed of independent trustees who are all well versed in the regulatory framework that applies to investment companies.

"With small- and mid-sized funds struggling to compete in a highly regulated and expensive environment, the advice dispensed by Northern Lights Fund Trust III's independent board will be especially helpful to those who join the trust," Gemini president Andrew Rogers said in the release.

The trustees include James Jensen, Anthony Payne, John Palancia, Mark H. Taylor and Jerry Vincentini.

Hauppauge, N.Y.-based Gemini serves as a partner to independent advisers, providing comprehensive, pooled investment solutions that include administration, accounting and technology.

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