Thursday, 21 August 2014
Last updated 40 min ago
Jul 23 2009 | 2:25am ET
Chicago-based Driehaus Capital Management has launched an absolute return mutual fund designed to take advantage of a broad range of opportunities in the credit markets.
Driehaus said the Driehaus Active Income Fund is unlike recent spate of “hedge-like” mutual funds in that it already boasts a three-year track record and has received a 5-star Morningstar rating. Assets in the fund currently exceed $800 million. The fund invests primarily in U.S. fixed income and floating rate securities, of both investment and non-investment-grade credit quality, by employing in a variety of short-term trading strategies.
According to K.C. Nelson, portfolio manager of the new fund, the fund pursues relative value and outright long and short investment opportunities across a variety of credit instruments and is looking to trump returns of long only core bond allocations, with equal or less volatility.
“The credit markets currently offer some extraordinary investment options,” he said. “However, this ‘cheapness’ exists in only certain segments of the market, and these segments are constantly changing. A static, long-only core approach with no hedging mechanism can fail to take advantage of these changes. This fund gives investors exposure to the credit markets in a relative value format, while hedging away virtually all of their interest rate risk.”
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note