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Orbitex Launches Interval Fund

The Orbitex Group of Funds of New York last week introduced the Orbitex Life Sciences & Biotechnology Fund. Orbitex' first interval fund will invest in small- to mid-sized companies in the life sciences, pharmaceuticals, medical research and biotechnology research, development and implementation, the company said.

As an interval fund, it operates as a closed-end fund, but periodically opens up to new investors. There is a minimum investment of $25,000 and a thirty-day subscription period and $100 million cut off point to new investors, according to the company.