Wednesday, 26 April 2017
Last updated 19 hours ago
Mar 31 2006 | 12:00am ET
Alternative investment firm Campbell & Company on Tuesday closed its Financial, Metals & Energy and Global Diversified portfolios to new investors. At the same time, the firm has announced it will no longer accept subscriptions to its other funds that employ these portfolios. However, current investors in the funds will be allowed to add to their positions.
Bruce Cleland, president and ceo, said the firm will continue to accept money in its flagship Multi-Strategy portfolio, which currently includes a 30% allocation to cash equities strategies and a 70% allocation to the same futures and currencies strategies that are included in the FME and Global Diversified portfolios, but in different proportions.
According to Cleland, the allocation to cash equities is expected to grow as the equity strategies mature and diversify.
Since November 2003 when the Multi Strategy portfolio began actively trading, it has delivered comparable returns to the FME and Global Diversified portfolios, but with 30% lower volatility.