Gemini Fund Services has added $5 billion under advisement this year by helping RIAs launch and grow their mutual funds, RIABiz reporter Lisa Shidler writes.

Gemini's total assets under advisement have grown to $17 billion this year, with the company's Northern Lights Fund Trust passing the $10 billion mark last week. Shidler reports that this year the company has helped set up 50 new alternatives funds with about $800 million in total AUM.

Gemini chief executive Andrew Rogers told RIABiz that market volatility has boosted demand for alternative funds.

"It’s very hard to launch a large-cap-growth fund. That’s not going to go anywhere when you’re competing against Vanguard, and that’s why advisors are launching these alternative funds for their clients," said Rogers.

The RIABiz story says that the fees that administering a fund through Gemini -- around $50,000 to launch a new fund, including Gemini's $15,000 fee, and around $200,000 for annual upkeep, including about $75,000 for Gemini's administrative services -- are far less than an RIA would pay on its own. And the story draws from interviews from several satisfied Gemini customers.  

Edited by: Chris Cumming


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