Friday, 22 May 2015
Last updated 2 hours ago
May 14 2012 | 10:35am ET
Credit Suisse's asset management division has launched a hedge fund-like mutual fund, the Credit Suisse Liquid Alternative Fund.
Said Jordan Drachman, head of research for Credit Suisse Alternative Beta Strategies: "Hedge funds offer the potential to improve diversification and reduce correlation and portfolio volatility; however, investors needing access to capital are often constrained by hedge funds' illiquid nature, and the process for investing in offshore vehicles can be tax restrictive, lengthy and expensive.”
Drachman says the new fund, which offers daily liquidity, provides “a liquid alternative for accessing the risk and return characteristics of hedge funds without the structural impediments of limited partnerships."
The fund is offered in Class A and Class C shares, both with minimum initial investments of $2,500 (taxable accounts) or $500 (IRAs). The fund also offers Class I institutional shares.
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…