New York-based Hagin Investment Management has launched its first mutual fund, a hedge fund-like vehicle called the Keystone Market Neutral Mutual Fund.
Hagin describes the fund as an “easy-to-use” institutional quality product launched in response to feedback from financial intermediaries across the U.S.:
“Fee-based advisors have limited options in the alternative space if they are not willing to work with separately managed account structures or limited partnerships,” said Hagin CEO and co-founder Patrick Morris in a statement. “Additionally, the lack of transparency in both positions and in exposure to the market limits the ability of the advisor to construct optimized portfolios based on client goals.”
The new mutual fund has a low fee, and is designed to deliver low volatility and a low correlation to the market. It will be administered by Chicago-based Cortland Fund Services with back-office support provided by Cortland’s Cottonwood Trust.
Hagin was established as a family office in 2006 by Patrick Morris and his father Robert. It is named for Dr. Robert Hagin, a famous Wall Street “quant.”