N.Y. Life Unit Unveils Funds Of Funds

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."


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note