Dreyfus Launches Hedge Fund Beta Mutual Fund

Apr 12 2010 | 7:34am ET

Mutual fund firm Dreyfus Corp. has launched a hedge fund beta replication vehicle, tracking a major hedge fund index.

The Dreyfus Dynamic Alternatives Fund seeks to offer exposure to a diversified portfolio of hedge fund included in Hedge Fund Research’s HFRI Index—without any direct hedge fund investments—along with a managed futures replication strategy. The two parts of the mutual fund will be balanced by a proprietary macro risk allocation model.

“Dreyfus Dynamic Alternatives Fund provides exposure to hedge fund betas while seeking to mitigate downside risks during volatile periods and at the same time maintains the ease of access and liquidity of a mutual fund,” John Baum, CEO of Dreyfus, said. “The strategy seeks to replicate the HFRI returns using relatively liquid instruments and tactically allocate to managed futures in volatile markets.”

The new fund is sub-advised by Mellon Capital Management, like Dreyfus a subsidiary of BNY Mellon Asset Management.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note