Wednesday, 6 May 2015
Last updated 19 hours ago
Nov 6 2007 | 12:43pm ET
The latest offering from mutual fund firm Arrow Funds is an alternative to hedge funds.
The Arrow Alternative Solutions Fund, the second mutual fund from the Olney, Md.-based firm, utilizes three long/short strategies, according to the firm: hedge equity, fixed-income arbitrage and managed futures. William Flaig, the firm’s new chief investment officer, is the portfolio manager of the new vehicle.
“The unique design of the Arrow Alternative Solutions Fund allows for low correlations to traditional assets with greater diversification, a risk target and controls, using passive investment strategies at a lower cost than most long/short products,” Flaig said. “It’s the best of the mutual fund and hedge fund worlds.”
Flaig joined Arrow from Rydex Investments, where he was a member of the team that developed the firm’s hedge fund replication strategies.
The Alternative Solutions fund is targeting a 10% or better annual return, with a 7% risk target. There is a minimum initial investment requirement of $5,000, or $2,000 for retirement accounts.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…