Thursday, 30 October 2014
Last updated 5 hours 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.