Monday, 22 September 2014
Last updated 45 min ago
Nov 28 2012 | 1:06am ET
A New York Life Investment Management subsidiary has launched its first funds of hedge funds.
MainStay Investments said the funds are designed for small and medium-sized institutional investors. The vehicles, a master fund and a feeder fund, are subadvised by Richmond, Va.-based Private Advisors.
The Private Advisors Alternative Strategies Master Fund and its feeder invest in a variety of hedge fund strategies, including credit, event-driven, global macro, long/short equity and relative value.
"Institutional investors and pension funds have long relied on alternative investments such as hedge funds to diversify their portfolios and achieve returns," MainStay President Stephen Fisher said. "Today, we’re seeing more and more demand among individual investors for investments that offer the benefits of hedge funds—long-term capital appreciation, less volatility and a low correlation to the equity and fixed-income markets—with more liquidity and flexibility."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.