Glenmede Forays Into Long/Short Space

Philadelphia-based Glenmede Trust, an independent wealth advisory firm, recently dipped its toes into the hedge fund space with the launch of a 130-30 strategy and a hedge fund-like mutual fund.

The 130-30 Total Market Long/Short strategy is designed to provide an amplified alpha based on long quantitative information and short quantitative calls, and is benchmarked against the Russell 3000 Index, according to CIO Gordon Fowler. “We’ve been investing this strategy for a client about a year ago and we’ve recently put it into a mutual fund format,” said Fowler. It is currently managing $115 million in client assets.