Saturday, 28 November 2015
Last updated 14 hours ago
Jun 22 2007 | 12:23pm ET
Progress Investment Management plans to launch an emerging manager fund of funds focused on the 130/30 strategies later on this year. The new offering will target plan sponsor investors.
“This is a new, alternative long-only strategy designed to offer plan sponsors the potential to enhance the returns that can be realized from the traditional long-only allocations the strategy seeks to supplement,” said Alex Hsiao, the firm’s CIO. “There is definitely a need for such a strategy, as plan sponsors seek alternative ways to generate excess alpha, particularly in an environment where alternative investments, such as hedge funds, begin to converge.”
The Progress fund of funds will employ a range of “emerging” firms that are registered investment advisors and manage up to $2 billion in assets at the time they are hired. “Those represented in our fund of funds are not rookies in any sense,” said Jose Balagot, director of manager research. “They are seasoned veterans in the field who typically have broken away from larger mainstream firms in order to achieve greater independence and control over their often innovative ideas.”
Balagot noted that Progress is currently completing its due diligence on emerging management firms who may participate in its upcoming 130/30 fund of funds.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…