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: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

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

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...