August 27, 2015 | Permalink
Fund Name: CPG York Event Driven Strategies
Adviser: Central Park Advisers LLC
Sub-Adviser(s): None
Fees: 0.65% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investors
Filing Date: Aug. 10, 2015
Effective Date: Pending
   
Fund Name: Series Portfolio Trust
Adviser: Weiss Multi-Strategy Advisers LLC
Sub-Adviser(s): None
Fees: 1.6% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $250,000 minimum initial investment (Class I); $2 million minimum initial investment (Class K)
Filing Date: Aug. 7, 2015
Effective Date: Pending
   
Fund Name: Ivy Apollo Strategic Income Fund
Adviser: Ivy Investment Management Company
Sub-Adviser(s): Apollo Credit Management LLC
Fees: 0.68% of net assets up to $1 billion; 0.62% of net assets over $1 billion and up to $2 billion; 0.58% of net assets over $2 billion and up to $3 billion; and 0.57% of net assets over $3 billion.
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $750 minimum initial investment.
Filing Date: July 17, 2015
Effective Date: Oct. 1, 2015
   
Fund Name: Ivy Apollo Multi-Asset Income Fund
Adviser: Ivy Investment Management Company
Sub-Adviser(s): Apollo Credit Management LLC
Fees: 0.70% of net assets up to $1 billion; 0.65% of net assets over $1 billion and up to $2 billion; 0.61% of net assets over $2 billion and up to $3 billion; and 0.58% of net assets over $3 billion.
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $750 minimum initial investment.
Filing Date: July 17, 2015
Effective Date: Oct. 1, 2015
   
Fund Name: TCW/Carlyle Liquid Tactical Fund
Adviser: TCW Investment Management Company
Sub-Adviser(s): Carlyle Liquid Market Solutions
Fees: Not Specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: July 16, 2015
Effective Date: Sept. 29, 2015
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August 25, 2015 | Permalink
Liquid alternatives firm Hatteras Funds opened up its Alternative Multi-Manager Fund (HHSIX) to retail investors. The fund was previously only available to select institutional clients. Formed in 2011, the diversified fund uses four hedge fund strategies and focuses on long/short equity and event-driven investments. It will continue to be co-managed by portfolio managers Michael Hennen and Ty Powers.
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August 25, 2015 | Permalink
The market correction in China has created the first dramatic instability on U.S. exchanges since liquid alternative funds' rise to prominence, however the products have performed well amid the volatility, according to Morningstar's tracking of seven liquid alt mutual fund categories. On Aug. 21, when the S&P 500 Index dropped by 3.13%, long-short equity funds declined 1.41%, the largest drop among the categories. On Aug. 24, when the S&P 500 index fell another 3.94%, liquid alts again showed relatively strong performance. While large-cap growth funds fell 3.73%, liquid alt funds declined less, with multi-alternatives down only 1.01% and long-short equity funds only 1.86% (less than half the overall large-cap growth slippage). The results underline the argument that liquid alternatives can provide investors with a measure of protection during periods of market volatility, Investment News reports.
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August 21, 2015 | Permalink
The Catalyst/Auctos Multi-Strategy Fund, the hedge fund Catalyst Funds acquired as part of its purchase of Auctos Capital Management in July has been converted into a mutual fund. The managed futures fund, traded under the symbol ACXIX, was formed in 2007 and is the fourth alternative fund that liquid alternative mutual fund firm Catalyst has converted into a mutual fund. Catalyst cited the hedge fund's performance as a significant motivation for its acquisition of Auctos and the fund's previous manager will remain in charge of the liquid alternative fund.
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August 21, 2015 | Permalink
Preqin's latest Investor Outlook reveals that 79% of institutional managers have exposure to at least one alternative asset class. More than 50% had exposure to private equity and hedge funds, 43% to private debt and nearly two-thirds had real estate investments. Other key findings of the report:
  • Investment in almost all asset classes is likely to increase over the coming year. In particular, 42% of private equity investors, 38% of private debt investors, and 36% of infrastructure investors plan to invest more capital in the next 12 months;
  • The vast majority of investors have a positive or neutral view of each asset class. For investors in private equity and real estate, this stands at 95% and 94% respectively;
  • 51% of private equity investors and 44% of infrastructure investors are aiming to allocate more capital to these asset classes. More than 60% of investors in real estate, infrastructure and private debt target returns of at least 8% annually, while just under 60% of private equity investors seek returns of at least 14%; and
  • Private debt and real estate have the highest level of investor satisfaction, at 83% and 80% respectively. Meanwhile, only 47% of hedge fund investors and 44% of private equity investors feel that terms are becoming more favorable for them.

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August 18, 2015 | Permalink
According to Preqin, the hedge fund industry saw average returns drop 0.31% in July, the second straight month of negative returns after declining 0.87% in June. However, funds of hedge funds had returns of 0.33% through July, driven by the strong performance of macro strategies-focused funds of hedge funds, which were up 1.74% for the month.
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August 13, 2015 | Permalink
Several fund firms and the global investment industry association are expressing security concerns in response to proposed SEC rule changes from May that would require more detailed and frequent report filings. The firms - including Vanguard, Capital Research and Management, State Street, OppenheimerFunds and Dodge & Cox - and the Investment Company Institute say they agree with the SEC's changes, however they want to ensure their data will be adequately protected from cyber threats once it has been provided to the regulator. The industry group recommends a third-party review of the SEC's systems be carried out both before the rules take effect and on an ongoing basis afterward.
Related News:
ICI comment letter to the SEC regarding proposed Form ADV changes - ICI
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August 13, 2015 | Permalink
Fund Name: CPG York Event Driven Strategies
Adviser: Central Park Advisers LLC
Sub-Adviser(s): None
Fees: 0.65% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investors
Filing Date: Aug. 10, 2015
Effective Date: Pending
   
Fund Name: Series Portfolio Trust
Adviser: Weiss Multi-Strategy Advisers LLC
Sub-Adviser(s): None
Fees: 1.6% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $250,000 minimum iniatial investment (Class I); $2 million minimum initial investment (Class K)
Filing Date: Aug. 7, 2015
Effective Date: Pending
   
Fund Name: Ivy Apollo Strategic Income Fund
Adviser: Ivy Investment Management Company
Sub-Adviser(s): Apollo Credit Management LLC
Fees: 0.68% of net assets up to $1 billion; 0.62% of net assets over $1 billion and up to $2 billion; 0.58% of net assets over $2 billion and up to $3 billion; and 0.57% of net assets over $3 billion.
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $750 minimum initial investment.
Filing Date: July 17, 2015
Effective Date: Oct. 1, 2015
   
Fund Name: Ivy Apollo Multi-Asset Income Fund
Adviser: Ivy Investment Management Company
Sub-Adviser(s): Apollo Credit Management LLC
Fees: 0.70% of net assets up to $1 billion; 0.65% of net assets over $1 billion and up to $2 billion; 0.61% of net assets over $2 billion and up to $3 billion; and 0.58% of net assets over $3 billion.
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $750 minimum initial investment.
Filing Date: July 17, 2015
Effective Date: Oct. 1, 2015
   
Fund Name: TCW/Carlyle Liquid Tactical Fund
Adviser: TCW Investment Management Company
Sub-Adviser(s): Carlyle Liquid Market Solutions
Fees: Not Specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: July 16, 2015
Effective Date: Sept. 29, 2015
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August 5, 2015 | Permalink
U.K.-based investment firm Aberdeen Asset Management purchased New York hedge fund investor Arden Asset Management as it continues to expand its alternative product line. Arden was founded in 1993 and oversees $11.5 billion in assets, including more than $1 billion invested in two open-end mutual funds that invest with hedge fund managers. Aberdeen said the deal is part of an overall strategy to grow its alternative business and that institutional investors are increasingly seeking hedge fund-like products. The transaction, terms of which weren't released, is expected to close in the December-ending quarter. It's the second large recent deal for Aberdeen after it purchased private equity and real assets firm FLAG Capital Management in May.
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August 5, 2015 | Permalink
The SEC issued a guidance that reinforces the position that whistleblowers who report possible wrongdoing internally and not to the agency first are protected by anti-retaliation provisions of the Dodd-Frank Act. The guidance is designed to clarify the process whistleblowers are required to follow in order to qualify for protection. However, the matter may ultimately end up before the Supreme Court, as the U.S. Court of Appeals for the Fifth Circuit Court issued a ruling last year that upheld the stance that Dodd-Frank's whistleblower protections only extend to those who report directly and initially to the SEC.
Related News:
SEC pays more than $3M to whistleblower - SEC
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