April 9, 2015 | Permalink
Fund Name: TSC/Richard Bernstein Global Thematic Micro-Cap Fund
Adviser: Radiance Asset Management LLC
Sub-Adviser(s): Richard Bernstein Advisors LLC
Fees: Not specified
Open- or Closed-End: Closed-End
Investor Restrictions: 500 shares of common stock; $25,000 Minimum
Filing Date: April 3, 2015
Effective Date: Pending
   
Fund Name: Triloma EIG Global Energy Term Fund I
Adviser: Triloma Energy Advisors LLC
Sub-Adviser(s): EIG Credit Management Company LLC
Fees: 2% Management Fee
Open- or Closed-End: Closed-End
Investor Restrictions: $5,000 Minimum
Filing Date: March 30, 2015
Effective Date: Pending
   
Fund Name: Archstone Alternative Solutions Fund
Adviser: Archstone Advisory Management LLC
Sub-Adviser(s): None
Fees: 1.2% up to (and including) $1B; 1.1% over $1B and up to (and including) $5B; 1.0% over $5B.
Open- or Closed-End: Closed-End (Possible quarterly repurchase of up to 20%)
Investor Restrictions: Accredited investor
Filing Date: March 19, 2015
Effective Date: Pending
   
Fund Name: Tekla World Healthcare Fund
Adviser: Tekla Capital Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Repurchase at least annually)
Investor Restrictions: None
Filing Date: March 10, 2015
Effective Date: Pending
   
Fund Name: TCW/Gargoyle Hedged Value Fund
Adviser: TCW Investment Management Company
Sub-Adviser(s): Gargoyle Investment Advisor LLC
Fees: 0.9% Annually
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: March 10, 2015
Effective Date: Pending
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April 6, 2015 | Permalink
In a letter to clients, BlackRock said it is considering closing or consolidating some money-market funds in order to comply with rules adopted by the SEC in July. The asset manager reportedly has about 50 money-market funds, and the changes will affect more than $200 billion in client assets and will leave it with about 30 funds.
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April 3, 2015 | Permalink
The market for alternative mutual funds continues to expand rapidly. Alternative mutual fund assets enjoyed double digit asset flow growth in 2014. There were also 12 new closed-end alternative filings in 2014. For 2014, 65% of investors said hedge funds met or exceeded their expectations. Not surprisingly, more than 25% of institutional investors plan to increase alternative allocations in 2015 and 40% of investment consultants plan to do the same.*

*Source, DailyAlts
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March 27, 2015 | Permalink
Howard Marks, a co-founder of $91-billion investment manager Oaktree Capital Group, issued a letter to investors warning against liquid alternatives. He questioned their perceived liquidity, which he says is "usually illusory, fleeting and unreliable, and it works (like a Ponzi scheme) until markets freeze up." Although liquid alternative products outperformed hedge funds in 2014, Marks said it is "especially dangerous" to believe their liquidity will continue should there be a downturn in the market.
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March 26, 2015 | Permalink
Fund Name: Archstone Alternative Solutions Fund
Adviser: Archstone Advisory Management LLC
Sub-Adviser(s): None
Fees: 1.2% up to (and including) $1B; 1.1% over $1B and up to (and including) $5B; 1.0% over $5B.
Open- or Closed-End: Closed-End (Possible quarterly repurchase of up to 20%)
Investor Restrictions: Accredited investor
Filing Date: March 19, 2015
Effective Date: Pending
   
Fund Name: Tekla World Healthcare Fund
Adviser: Tekla Capital Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Repurchase at least annually)
Investor Restrictions: None specified
Filing Date: March 10, 2015
Effective Date: Pending
   
Fund Name: BNY Mellon Absolute Insight Funds
Adviser: The Dreyfus Corporation
Sub-Adviser(s): Pareto Investment Management Ltd.
Fees: Not specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: March 3, 2015
Effective Date: Pending
   
Fund Name: TCW/Gargoyle Hedged Value Fund
Adviser: TCW Investment Management Company LLC
Sub-Adviser(s): Gargoyle Investment Advisor
Fees: 0.9% Annually
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: March 10, 2015
Effective Date: Pending
   
Fund Name: The Gabelli Go Anywhere Trust
Adviser: Gabelli Funds LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Total return fund)
Investor Restrictions: $5,000 Minimum
Filing Date: March 3, 2015
Effective Date: Pending
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March 19, 2015 | Permalink
Rothschild Asset Management appointed Michael Woods as its CEO, effective immediately. He was previously head of the Americas for Deutsche Asset & Wealth Management's global client group and CEO of DWS Investments, where he managed its U.S. mutual funds business. He also served as SVP at Evergreen Investment Management Company and was CEO and vice-chairman of the board at XTF Advisors.
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March 18, 2015 | Permalink
Despite returns that have lagged behind markets in recent years, a report from McKinsey Company states that alternative funds - including hedge funds and public products such as mutual funds and exchange-traded funds - will continue to grow in popularity. The "vast majority of institutional investors intend to either maintain or increase their allocations to alternatives over the next three years," the report says, pointing to the following reasons for alternatives' popularity:
  • Institutional investors are looking for consistent, risk-adjusted returns that aren't connected to market performance and are looking to alternatives for inflation protection and income generation;
  • Alternatives offer a wide range of product offerings to serve diverse investor needs and preferences; and
  • The alternatives market remains highly fragmented, with ample room for new category leaders to emerge.

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March 16, 2015 | Permalink
SEC commissioner Michael Piwowar outlined three areas of the current U.S. regulatory regime that the markets watchdog may put under the microscope: fund data reporting, in-kind redemptions and temporary suspension of redemptions. Specifically, he said the SEC may decide to revisit the rules surrounding in-kind redemptions, which permit mutual funds to use underlying securities instead of cash in order to satisfy investors' redemption requests during times of stress. The current rules, which haven't been updated for a significant period of time, may include too many restrictions on mutual funds' use of this tool, he said, which can help funds avoid a forced sale of securities. Piwowar made the remarks at the 2015 Mutual Funds and Investment Management Conference in response to concerns expressed about the effect ETFs may have on market stability.
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March 12, 2015 | Permalink
Fund Name: BNY Mellon Absolute Insight Funds
Adviser: BNY Mellon
Sub-Adviser(s): Pareto Investment Management
Fees: None Specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: March 3, 2015
Effective Date: Pending
   
Fund Name: TCW/Gargoyle Hedged Value Fund
Adviser: TCW Investment Management Company
Sub-Adviser(s): Gargoyle Investment Advisor
Fees: 0.9% Annually
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: March 10, 2015
Effective Date: Pending
   
Fund Name: The Gabelli Go Anywhere Trust
Adviser: Gabelli Funds
Sub-Adviser(s): None Specified
Fees: 1%
Open- or Closed-End: Closed-End (Total return fund)
Investor Restrictions: $5,000 Minimum
Filing Date: March 3, 2015
Effective Date: Pending
   
Fund Name: Vanguard Alternative Strategies Fund
Adviser: Vanguard Group
Sub-Adviser(s): None
Fees: 1.1%
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: Institutional Investors; $250,000 Minimum
Filing Date: Feb. 27, 2015
Effective Date: Pending
   
Fund Name: Context Fundamental Value Long/Short Fund
Adviser: Context Advisors III
Sub-Adviser(s): Omega Advisors
Fees: 2% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase offer of 5% of outstanding shares)
Investor Restrictions: $25,000 Minimum
Filing Date: Feb. 17, 2015
Effective Date: Pending
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March 11, 2015 | Permalink
Fund Name: TSC/Richard Bernstein Global Thematic Micro-Cap Fund
Adviser: Radiance Asset Management LLC
Sub-Adviser(s): Richard Bernstein Advisors LLC
Fees: Not specified
Open- or Closed-End: Closed-End
Investor Restrictions: $25,000 Minimum
Filing Date: April 3, 2015
Effective Date: Pending
   
Fund Name: Triloma EIG Global Energy Term Fund I
Adviser: Triloma Energy Advisors LLC
Sub-Adviser(s): EIG Credit Management Company LLC
Fees: 2% Management Fee
Open- or Closed-End: Closed-End
Investor Restrictions: $5,000 Minimum
Filing Date: March 20, 2015
Effective Date: Pending
   
Fund Name: Archstone Alternative Solutions Fund
Adviser: Archstone Advisory Management LLC
Sub-Adviser(s): None
Fees: 1.2% up to (and including) $1B; 1.1% over $1B and up to (and including) $5B; 1.0% over $5B.
Open- or Closed-End: Closed-End (Possible quarterly repurchase of up to 20%)
Investor Restrictions: Accredited investor
Filing Date: March 19, 2015
Effective Date: Pending
   
Fund Name: Tekla World Healthcare Fund
Adviser: Tekla Capital Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Repurchase at least annually)
Investor Restrictions: None
Filing Date: March 10, 2015
Effective Date: Pending
   
Fund Name: BNY Mellon Absolute Insight Funds
Adviser: The Dreyfus Corporation
Sub-Adviser(s): Pareto Investment Management Ltd.
Fees: Not Specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: March 3, 2015
Effective Date: Pending
   
Fund Name: TCW/Gargoyle Hedged Value Fund
Adviser: TCW Investment Management Company
Sub-Adviser(s): Gargoyle Investment Advisor LLC
Fees: 0.9% Annually
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: None
Filing Date: March 10, 2015
Effective Date: Pending
   
Fund Name: The Gabelli Go Anywhere Trust
Adviser: Gabelli Funds LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Total return fund)
Investor Restrictions: $5,000 Minimum
Filing Date: March 3, 2015
Effective Date: Pending
   
Fund Name: Vanguard Alternative Strategies Fund
Adviser: The Vanguard Group Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: Institutional Investors; $250,000 Minimum
Filing Date: Feb. 27, 2015
Effective Date: Pending
   
Fund Name: Context Fundamental Value Long/Short Fund
Adviser: Context Advisers III LLC
Sub-Adviser(s): Omega Advisors Inc.
Fees: 2% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase of 5% of outstanding shares)
Investor Restrictions: Qualified clients; $25,000 Minimum
Filing Date: Feb. 17, 2015
Effective Date: Pending
   
Fund Name: Terra Income Fund 6
Adviser: Terra Income Advisors
Sub-Adviser(s): None
Fees: 3% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Net worth of at least $70,000 and annual gross income of at least $70,000, or a net worth of at least $250,000. $5,000 Minimum.
Filing Date: March 3, 2015
Effective Date: Pending
   
Fund Name: CNL Energy Total Return Fund
Adviser: CNL Energy Fund Advisors LLC
Sub-Adviser(s): None
Fees: Not Specified
Open- or Closed-End: Closed-End
Investor Restrictions: $5,000 Minimum ($4,000 for qualified plans)
Filing Date: Feb. 27, 2015
Effective Date: Pending
   
Fund Name: First Trust Securities Convertible Income Fund
Adviser: First Trust Advisors
Sub-Adviser(s): SSI Investment Management
Fees: Not specified
Open- or Closed-End: Closed-End
Investor Restrictions: None specified
Filing Date: Jan. 5, 2015
Effective Date: Pending
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