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.
Tuesday, 24 January 2017
Last updated 33 min ago
Feb 3 2006 | 12:00am ET
American Century Investments has launched a mutual fund that will employ hedge fund strategies. The new absolute return fund will use a market neutral strategy and go long and short, said John Schniedwind, chief investment officer for American Century’s quantitative equity group.
“The equity markets are challenging, to say the least, and we believe by removing the long-only bias in stock selection, our mutual-fund firm can provide investors with transparency and daily liquidity, and, at the same time, offer new processes designed to benefit from volatile capital markets,” Schniedwind said.
The long-short equity fund is being managed out of the firm’s Northern California offices and is available only through financial intermediaries and will not be offered to retail customers.
“This fund may be an attractive diversification option for investors who are looking for a market neutral strategy to complement their existing holdings,” said Kurt Borgwardt, a senior portfolio manager for the fund.