Saturday, 25 October 2014
Last updated 12 hours 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."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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