Saturday, 10 October 2015
Last updated 13 hours ago
Nov 19 2013 | 10:57am ET
Franklin Templeton Investments is rolling out a new mutual fund of hedge funds, managed by the fund of hedge funds business it bought last year.
The Franklin K2 Alternative Strategies Fund is the mutual-fund giant's first multi-manager, multi-strategy mutual fund focused on alternative investments. The fund will offer daily liquidity.
"In today's volatile, low-interest-rate environment, many investors are looking for actively-managed investment solutions from established managers employing strategies that can help reduce volatility in unpredictable markets while providing attractive risk-adjusted returns," K2 co-founder David Saunders, a co-manager of the new fund, said. "We believe this fund is an ideal solution to meet those needs, and are thrilled to offer retail investors access to several of the strategies and managers that K2's institutional investors have long had access to."
Among those managers will be Chatham Asset Management, Chilton Investment Co., Lazard Asset Management, P. Schoenfeld Asset Management and York Capital Management, Franklin Templeton said.
Franklin Templeton bought a majority stake in K2 last year, and has the option to acquire the rest of the firm in 2016.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…