Sunday, 26 April 2015
Last updated 1 day ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…