CHARLOTTE, N.C. - First Union Securities has formed a partnership with Mount Lucas Management of Princeton, N.J., to offer Mount Lucas' managed-futures investment programs to its individual investor clients.
Managed futures are open-end portfolios that invest in futures contracts on commodities and interest rates.
First Union's 3,500 financial advisers are to offer Mount Lucas' MLM Index. The unleveraged index, based on 25 commodity and financial futures markets, captures passive returns.
Tim Rudderow, president of Mount Lucas Management, said the product is for institutions and high-net-worth investors wishing to balance their portfolios during volatile market periods.
Mount Lucas Management, a managed-futures specialist, has designed and administered managed-futures investment programs since 1986.