Context Asset Management Launches First Alternative Mutual Fund

Mar 26 2014 | 8:56am ET

Newly formed alternative mutual fund specialist Context Asset Management has launched its maiden multi-manager fund.

The Context Alternative Strategies Fund, managed by Andy Dudley and Jason Myers, will allocate to sub-advisors Highland Capital Management (energy and materials), Phineus Partners (long-short equity), Kellner Capital (merger arbitrage), Weatherbie Capital (market neutral), ESM Management (structured credit), Armory Funds (high-yield distressed debt), First Principles Capital Management (relative value fixed income) and Del Mar (managed futures).

Dudley brings more than 23 years of industry experience in fixed-income investments, portfolio management and asset allocation to Context where he is responsible for investment policy, portfolio construction, risk management and manager selection for the firm’s multi-manager offering. Prior to joining Context he was the senior investment director in Global Asset Allocation at Putnam Investments. He also spent 12 years with the taxable bond group at Fidelity Investments.

Myers has spent the majority of his career developing a comprehensive knowledge of effective hedge fund strategy screening, selection, analysis and portfolio creation.  As portfolio manager, he is responsible for the funds operations and investment activities including investment policy, portfolio construction, manager selection as well as serving on the investment committee. Prior to Context he was founder and managing director of ARIA, a registered RIA focusing on liquid alternatives. Myers also spent eight years as managing director of Boston-based consulting firm Newport Capital Advisers.

“Diversified portfolios with low correlations between return drivers have tended to generate smoother, more efficient investment outcomes. Unfortunately, many traditional and so called alternative investments have not delivered on these measures,” said Dudley in a statement. “Our investment approach seeks to identify alternative strategies that are less connected to traditional market risks and that potentially offer a more efficient and diversifying return profile.”

Based in Bala Cynwyd, Pennsylvania, Context Asset Management was formed by a group of investment industry veterans including CEO Steve Kneely, the former CEO of Spider Management, co-founder and CEO of Turner Investment Partners and president of the Turner Funds.

CIO John Culbertson was previously CIO for a large family office and prior to that a partner at Cooper Neff while chief marketing officer Kevin Garton served as executive vice president, chief marketing and revenue officer for Neat, a Philadelphia-based company that markets hardware, software, cloud and mobile solutions.

Context plans to launch both single- and multi-manager products.

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