Friday, 30 January 2015
Last updated 3 min ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…