Highland, Anchor Offer Multi-Strat. Long/Short Fund

Nov 1 2011 | 7:06pm ET

Highland Capital Management's retail fund division has launched a long/short product managed by hedge fund Anchor Capital Management.

Highland Funds' new Alpha Trend Strategies Fund seeks "more consistently positive returns" employing an international long/short approach, the company said in a press release. Anchor will use two strategies, rotating in and out of regional and country-specific exchange-traded funds while also investing—both long and short—in broad market stock indices.

"Global equity markets have become more correlated, increasing the need for a multi-strategy, long/short approach to international investing," Eric Leake, Anchor's chief investment officer and co-manager of the new fund, said. "With our focus on exploiting a variety of short-, intermediate- and long-term trends, we believe this is an ideal environment for a global long/short equity strategy."

"In a volatile global market, the addition of Anchor Capital's strategy provides investors with a new international option," Highland Funds president Joe Dougherty said.

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