Hedge Fund Goes Mutual In Search Of Clients

Jul 21 2011 | 11:59am ET

Having trouble raising money for its hedge fund, Philadelphia Investment Partners has decided to turn it into a mutual fund.

The $15 million New Generation Fund, which has a capacity of $1 billion, is now an Investment Company Act of 1940 fund. New Jersey-based Philadelphia doesn't plan to change the global all-cap long/short fund's strategy, but will now have to use an options overlay for most of its shorting.

"We realized there wasn't really a product vehicle that was feasible for the majority of our clients," Joe Duncan, a portfolio manager, told HFMWeek.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR