July 16, 2015 | Permalink
Fund Name: Guggenheim Global Equity Income Fund
Adviser: Guggenheim Funds Investment Advisors LLC
Sub-Adviser(s): Guggenheim Partners Investment Management LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Periodic repurchase)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: July 2, 2015
Effective Date: Pending
   
Fund Name: Cushing MLP Infrastructure Master Fund
Adviser: Cushing Asset Management LP
Sub-Adviser(s): None
Fees: 1% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investors
Filing Date: June 30, 2015
Effective Date: Pending
   
Fund Name: RiverNorth Marketplace Lending Corp.
Adviser: RiverNorth Capital Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: None specified
Filing Date: June 11, 2015
Effective Date: Pending
   
Fund Name: Ramius Archview Event Credit Feeder Fund
Adviser: Ramius Advisors LLC
Sub-Adviser(s): Archview Investment Group LP
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $25,000 minimum initial investment; $10,000 minimum subsequent additional investment. Qualified investors only.
Filing Date: June 5, 2015
Effective Date: Pending
   
Fund Name: RiverNorth Multi-Strategy Arbitrage Fund
Adviser: RiverNorth Capital Management LLC (Closed-End Fund Arbitrage Strategy)
Sub-Adviser(s): Vivaldi Asset Management LLC (Merger Arbitrage Strategy) and Linden Advisors LP (Convertible/Credit Strategy)
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: None specified
Filing Date: May 28, 2015
Effective Date: Pending
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July 15, 2015 | Permalink
Massachusetts Secretary of the Commonwealth William Galvin is investigating state-registered financial advisors' recommendations and sales of 25 alternative mutual funds, which he said "can be accidents waiting to happen when they are sold to investors who do not understand the risks and downside associated with the product." The Massachusetts Securities Division sent subpoenas to the advisory firms related to "recommendations to retail clients" regarding funds from BlackRock, JPMorgan Chase, Wells Fargo, MainStay Investments and Hatteras Funds. The request includes documents related to the supervision of the investment advisors' recommendations, as well as the compliance and training involved in offering such advice. The advisory firms involved weren't identified and Galvin's office stated that "being included on the list is not an indication of wrongdoing at this time." Last year, the SEC launched its own investigation of alternative mutual funds.
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July 13, 2015 | Permalink
According to a survey by consultant Towers Watson, alternative money managers such as real estate funds, hedge and private equity funds added $600 billion in assets last year as institutions poured in cash to diversify their portfolios. Total assets under management of alternative asset managers stood at $6.3 trillion at the end of 2014, the survey showed. The top 100 alternative asset managers held $3.5 trillion in assets, up from $3.27 in 2013. Hedge funds and private equity fund managers accounted for 23% and 22% of the assets managed by the top money managers, respectively. Private equity funds of funds accounted for 10% at $342 billion AUM, followed by funds of hedge funds at 5% and $214 billion AUM.
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July 13, 2015 | Permalink
A survey (reg. req.) by Morningstar and Barron's on alternative investments found financial advisers are becoming increasingly enthusiastic about the asset class just as U.S. institutions are becoming more cautious due to the high fees and poor transparency of traditional hedge funds. However, both advisors and institutional investors expressed continued enthusiasm for multi-alternative, managed futures and long-short equity mutual fund strategies, which could bolster demand for these categories in the future. Other findings of the survey include:
  • Some 45% of institutions said alternatives were "somewhat less important" or "much less important" than traditional investments, compared to 28% the year before.
  • Around 71% of institutions and 66% of financial advisers showed either skeptical or unfavourable attitudes toward investing in nontraded REITs.

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July 13, 2015 | Permalink
In response to their growing popularity after a six-year bull market for stocks, Morgan Stanley Wealth Management offered an investment primer on alternative mutual funds. Since the funds expand the accessibility of alternatives to a broader audience, the investment giant cited the need for greater education regarding their benefits and limitations compared to traditional hedge funds. The document outlines the reasons for the products' increased popularity and offers advice for selecting the correct investment vehicle, strategy and manager. "We anticipate the roster of approved alternative mutual fund managers will continue to grow as we expect more skilled managers will adapt their strategies for mutual funds," it concludes.
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July 2, 2015 | Permalink
Fund Name: Cushing MLP Infrastructure Master Fund
Adviser: Cushing Asset Management, LP
Sub-Adviser(s): None
Fees: 1.00% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investors
Filing Date: June 30, 2015
Effective Date: Pending
   
Fund Name: RiverNorth Marketplace Lending Corp.
Adviser: RiverNorth Capital Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment not specified
Filing Date: June 11, 2015
Effective Date: Pending
   
Fund Name: Ramius Archview Event Credit Feeder Fund
Adviser: Ramius Advisors LLC
Sub-Adviser(s): Archview Investment Group LP
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $25,000 minimum initial investment; $10,000 minimum subsequent additional investment. Qualified investors only.
Filing Date: June 5, 2015
Effective Date: Pending
   
Fund Name: RiverNorth Multi-Strategy Arbitrage Fund
Adviser: RiverNorth Capital Management LLC (Closed-End Fund Arbitrage Strategy)
Sub-Adviser(s): Vivaldi Asset Management LLC (Merger Arbitrage Strategy) and Linden Advisors LP (Convertible/Credit Strategy)
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment not specified
Filing Date: May 28, 2015
Effective Date: Pending
   
Fund Name: Multi-Strategy Alternative Income Fund
Adviser: Lucia Capital Management
Sub-Adviser(s): None
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment (Class A, L and C); $1 million minimum (Class I)
Filing Date: May 19, 2015
Effective Date: Pending
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June 28, 2015 | Permalink
PwC released a report projecting the alternative investment industry to grow to at least $13.6 trillion, from the current $2.5 billion, over the next five years. The growth will largely be fueled by demand from sovereign funds, public pension funds and newly wealthy individual investors. PwC also said assets managed in liquid alternative funds will grow to $664 billion by 2020 from $260 billion at the end of 2013.
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June 26, 2015 | Permalink
Bank of America's Merrill Lynch Alternative Investments will sell the management rights of some traditional non-registered and 40-Act-registered private equity fund of funds to Neuberger Berman. Terms of the deal were not disclosed, but is said to involve around $1 billion worth of private equity fund of funds managed by Merrill Lynch.
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June 24, 2015 | Permalink
Asset managers will begin to bundle together three growing product types into packaged retail offerings to offer a balance of their attributes, according to Citi's sixth annual Industry Evolution Survey, based on one-on-one interviews with 100 firms globally. Those interviewed expect funds will be created offering a combination of unconstrained long strategies, smart beta products and liquid alts in order to bridge the gap between actively managed, multi-asset portfolios and existing static, single asset class or balanced retail funds. They believe liquid alts will be included in these multi-asset class solutions since they offer investors access to strategies that have traditionally only been available to qualified purchasers in privately traded funds. The recent growth in both 1940 Investment Company Act alternative funds and alternative UCITS funds provides options that can provide mass affluent and retail investors exposure to alternatives exposure and help diversify their asset class, Citi found.
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June 18, 2015 | Permalink
Fund Name: RiverNorth Marketplace Lending Corp.
Adviser: RiverNorth Capital Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment not specified
Filing Date: June 11, 2015
Effective Date: Pending
   
Fund Name: Ramius Archview Event Credit Feeder Fund
Adviser: Ramius Advisors LLC
Sub-Adviser(s): Archview Investment Group LP
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $25,000 minimum initial investment; $10,000 minimum subsequent additional investment. Qualified investors only.
Filing Date: June 5, 2015
Effective Date: Pending
   
Fund Name: RiverNorth Multi-Strategy Arbitrage Fund
Adviser: RiverNorth Capital Management LLC (Closed-End Fund Arbitrage Strategy)
Sub-Adviser(s): Vivaldi Asset Management LLC (Merger Arbitrage Strategy) and Linden Advisors LP (Convertible/Credit Strategy)
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment not specified
Filing Date: May 28, 2015
Effective Date: Pending
   
Fund Name: Multi-Strategy Alternative Income Fund
Adviser: Lucia Capital Management
Sub-Adviser(s): None
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment (Class A, L and C); $1 million minimum (Class I)
Filing Date: May 19, 2015
Effective Date: Pending
   
Fund Name: Guggenheim Energy & Income Fund
Adviser: Guggenheim Funds Investment Advisors LLC
Sub-Adviser(s): Guggenheim Partners Investment Management LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Minimum investment of 25 common shares
Filing Date: May 15, 2015
Effective Date: Pending
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