Frontier Funds Replaces Key Advisor

The reshuffle signals a strategic pivot in advisor composition for several commodity-focused vehicles.

July 14, 2025


Frontier Funds Replaces Welton With New Allocations Across Managed Funds



On July 1, 2025, Frontier Fund Management made a decisive change. Welton Investment Partners, a key commodity trading advisor to six of its funds, was removed from all mandates. In its place, a refreshed set of allocations has been rolled out across the Frontier Balanced, Diversified, Heritage, Long/Short Commodity, Masters, and Select Funds.



These changes weren’t minor. They touched nearly every corner of Frontier’s managed fund platform. Welton had previously advised these funds via the Galaxy Plus Managed Account platform, making its exit a notable move in the firm’s ongoing advisor review process.



Allocation Changes by Fund



Frontier Balanced Fund


For investors in the Frontier Balanced Fund, the reallocation means a new set of weightings:



  • Aspect Capital – 35%

  • Quantitative Investment Management (QIM) – 19%

  • Quest Partners – 19%

  • Quantica Capital – 14%

  • Horizon3 Investment Management – 7%

  • Fort L.P. – 6%



Frontier Diversified Fund


In the Diversified Fund, asset exposure was similarly reshaped:



  • Aspect Capital – 27%

  • Quest Partners – 24%

  • Quantitative Investment Management (QIM) – 20%

  • Fort L.P. – 16%

  • Quantica Capital – 13%



These positions reflect current allocation levels, but Frontier Fund Management retains the flexibility to make future changes as performance evolves.

Frontier Heritage Fund


The Heritage Fund narrowed its advisor roster to just two:



  • Aspect Capital – 73%

  • Horizon3 Investment Management – 27%


This shift streamlines oversight and tightens the fund’s focus.



Frontier Long/Short Commodity Fund


The Long/Short Commodity Fund moved in an even more concentrated direction. All trading responsibility was handed to Rosetta Capital Management, which now manages 100% of the exposure. That consolidation signals a clear directive to simplify strategy execution under a single trading program.



Frontier Masters Fund


For the Masters Fund, Frontier reassigned its allocation between two advisors:



  • Aspect Capital – 78%

  • Quantica Capital – 22%


This setup reflects a recalibration that may adapt over time depending on performance metrics and market behavior.



Frontier Select Fund


The Select Fund is now split between:



  • Quantica Capital – 76%

  • Horizon3 Investment Management – 24%


These new weightings are in effect as of July 1 and are subject to change as needed to reflect strategy performance.



Across all six funds, Frontier’s managing owner emphasized that allocations may shift over time based on trading outcomes or operational considerations. But for now, these realignments provide a new baseline, with Welton officially out of the picture and the remaining managers tasked with guiding strategy forward.

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