Today, we’re announcing a key enhancement coming to our Global Mutual Funds product: Alternative Asset Funds. With this expansion, DriveWealth has further expanded our fund universe to include an even wider range of funds that offer exposure to various alternative assets and strategies.
Alternative Asset Funds cover unique investment strategies like: Private equity, private credit, infrastructure, commodities, real estate, and more.
A few of the fund families that are included in our universe:
- Apollo
- Blackrock
- Schroeder
- Hamilton Lane
- Pictet
- PIMCO
What Sets Alternative Funds Apart?
Unlike traditional mutual funds, which are priced daily, Alternative Asset Funds are typically less liquid and are priced at weekly, monthly, or annual frequencies. This means:
- Execution timing: Execution reports will be received several days or weeks after the initial order request is placed.
- Cash impact: For buy orders, buying power will be withheld until executions are complete.
- Liquidity profile: Unlike other asset classes or daily-priced funds, sell orders will not release cash to the investor until the executions occur.
API-First Expansion
Developers can enable offshore mutual funds through the same mutual funds endpoints they already use. Here’s a snippet of what an alternative fund looks like in our API stack:
{
"symbol": "KYG3729P1019",
"name": "GAMA PEARL DIVER GLOB \"PB\" (USD) D",
"longOnly": false,
"orderSizeMax": 10000,
"orderSizeMin": 1E-8,
"orderSizeStep": 1E-8,
"exchangeNickelSpread": false,
"close": 1000,
"enableExtendedHoursNotionalStatus": "INACTIVE",
"overnightTradingStatus": "INACTIVE",
"isOptionsEnabled": false,
"isPTP": false,
"id": "f58a4a0a-cd92-41df-bfd8-815f630826cd",
"type": "MUTUAL_FUND",
"status": "ACTIVE",
"closePrior": 0,
"ISIN": "KYG3729P1019",
"CUSIP": "KYG3729P1019",
"mutualFundData": {
"loadType": "NO_LOAD",
"subAssetClass": "AL - Private Debt",
"shareClass": "PB",
"shortTermRedemptionRules": true,
"subscriptionNoticeDays": 6,
"redemptionNoticeDays": 30,
"assetClass": "Alternatives",
"subscriptionCommission": 0,
"fundType": "OFFSHORE_US_DOLLAR",
"managementCommission": 1.5,
"subscriptionSettlementPeriodDays": 2,
"maximumPurchaseAmount": 99999999.99,
"purchaseCutOff": "13:30Z",
"largeTradeNotificationRequired": true,
"redemptionCutOffZoned": "15:30",
"purchaseEligibility": "ALL",
"nav": 1000,
"navDate": "2025-06-18",
"dividendFrequency": "QUARTERLY",
"afFundType": "Hedge Fund",
"investmentObjective": "The investment objective of the Portfolio is to achieve long-term capital appreciation...",
"subscriptionCutOffZoned": "15:30",
"summaryRiskIndicator": "",
"redemptionSettlementPeriodDays": 6,
"subscriptionTimeZone": "Europe/Madrid",
"redemptionFee": "NO_REDEMPTION_FEE",
"dccsEligible": true,
"redemptionCutOff": "13:30Z",
"purchaseMinimums": {
"minimumInitialTaxable": 10000,
"minimumSubsequentTaxable": 0.01
},
"UCITS": "N",
"domicile": "KY",
"redemptionTimeZone": "Europe/Madrid",
"fundStatus": "OPEN",
"fundFamily": "GAMA INVESTIMENTOS LTDA"
}
}Together, we’re widening the door to financial inclusion for investors around the world, working to enable all asset classes across a consistent, unified API stack.
To learn more about Alternative Asset Funds, please visit our developer site.
About DriveWealth:
DriveWealth is a global B2B financial technology platform. Our core business is providing Brokerage-as-a-Service, powering the investing and trading experiences for digital wallets, broker-dealers, asset managers and consumer brands. DriveWealth’s APIs provide our partners with a modern, extensible and flexible toolkit to develop everything from traditional investment workflows to more innovative techniques like rounding up purchases into fractional share ownership. DriveWealth, LLC is a registered broker dealer, member of FINRA and SIPC. Visit legal.drivewealth.com for full disclosures.
