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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June 15, 2015 | Permalink
Amid the recent rise in popularity of complex mutual funds and ETFs, SEC member Kara Stein is "concerned that we are starting to see some cracks in the foundation" of what she says is an outdated regulatory regime. The Democratic member says the products, which use large amounts of leverage, invest in illiquid securities or execute strategies similar to those utilized by hedge funds, could be putting retail investors at risk. Stein's comments, made at a Brookings Institution event, come as the SEC and other federal regulators are more closely scrutinizing the asset management sector to assess whether certain products or activities could pose risks.
Related News:
Regulators' odd focus on funds could end badly for investors - Morningstar
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June 10, 2015 | Permalink
Salient Partners completed the acquisition of Forward Management, creating a combined $27-billion diversified asset management firm with 250 employees at offices in Houston, San Francisco and New York. Approximately half of those assets are held in alternative investment strategies and the firm said the transaction will boost its efforts to bring alternatives to financial advisors.
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June 9, 2015 | Permalink
The CFTC launched a plan to close a loophole Wall Street banks may have used to avoid tough new swap trading rules. Under the plan, the regulator would force the derivatives operations of U.S. banks to comply with its rules for uncleared swaps, even if the units are located abroad. CFTC chairman Tim Massad said the plan is a good way to deal with the shift of such operations abroad to units that aren't guaranteed by their parent companies. These foreign units could pose a risk to the U.S. economy, even if they aren't explicitly guaranteed by the parent company, Massad said. The $630-trillion global swaps market is dominated by large Wall Street banks such as JP Morgan, BofA and Citigroup.
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June 5, 2015 | Permalink
Private equity managers working their way into the market of registered funds reserved for retail accredited investors are building distribution strategies similar to hedge funds. So far this year, two private equity firms have developed regulated investment company (RIC) strategies. A strategy from Altegris sees it using KKR funds, while a product from Voya Investment Management affiliate Pomona Capital aims to launch on major custodian platforms for independent advisors. Both strategies have seed funding to buy secondary stakes in private equity funds. Kramer Levin's George Silfen says hedge fund RIC growth stands to be very attractive for private equity managers as it opens up another avenue for distribution. Private equity RIC funds tend to have an initial lockup of one to two years, but offer quarterly redemptions, as well as simpler 1099 form tax reporting and no capital calls. RICs rely heavily on secondaries and over time will combine them with smaller stakes in direct funds and in co-investment deals alongside such funds. Those attributes, Silfen says, make private equity RICs distinct in a critical way since the majority of hedge fund RICs are relatively faithful adaptations of funds of funds built and sold for institutional investors. Private equity RIC funds so far have been designed specifically for the retail market, as opposed to replicas of the underlying funds they tap into.
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June 4, 2015 | Permalink
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
   
Fund Name: Oppenheimer Global Multi-Asset Growth Fund
Adviser: OFI Global Asset Management Inc.
Sub-Adviser(s): OppenheimerFunds Inc. (Sub-sub-advisors: Cornerstone Real Estate Advisers LLC and OFI SteelPath Inc.)
Fees: Not specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $1,000 minimum initial investment for most share classes; $5 million minimum per account of Class I shares
Filing Date: May 1, 2015
Effective Date: Pending
   
Fund Name: Hays U.S. Opportunity Fund
Adviser: Hays Capital Management LLC
Sub-Adviser(s): None
Fees: 0.85% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $10,000 minimum (Class A, C, N shares), $1,000 for retirement accounts; $100,000 minimum (Class I shares), $5,000 for retirement accounts.
Filing Date: April 24, 2015
Effective Date: Pending
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