Miller/Howard’s New Fund To Target DB Plans

Oct 5 2006 | 2:55pm ET

Woodstock, N.Y.-based boutique Miller/Howard Investments is set to begin a marketing push next year for its new hedge fund targeting the defined-benefit community. The firm hopes to raise $150 million by the end of next year for the currently $6 million Absolute Value Partners fund, according to Executive Vice President Steve Chun.

The firm’s long-time strategy has been to focus on dividend-paying stocks, and that won’t change with the hedge fund, a strategy that may appeal to DB funds.

“That core portfolio is going to be a solid group of conservative, dividend-focused strategies,” Chun says, to which Miller/Howard will add market hedges—with a 100% leverage limit—to add alpha.

The fund launched on March 1 with its initial investors. Chun says that its returns so far are “in line” with other long/short strategies.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...