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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.