London-based alternative investment manager AltEdge Capital has launched a new fund of hedge funds, AltEdge Decorrelated Portfolio, designed to offer investors a correlation profile detach
London-based alternative investment manager AltEdge Capital has launched a new fund of hedge funds, AltEdge Decorrelated Portfolio, designed to offer investors a correlation profile detached from equity markets over the long term.
The new portfolio sits alongside the firm’s existing equity-dominant portfolio, AltEdge Directional, as well as a diversified global multi-strategy fund, AltEdge Balanced.
The AltEdge Decorrelated Portfolio is a globally diverse non-equity based multi-strategy fund of hedge funds. ‘We have launched the Decorrelated portfolio in response to our investors’ desire for a product that should have no correlation to equity markets, following an equity bull market run for over four years,’ says AltEdge chief executive and chief investment officer Chris Goekjian.
‘The AltEdge Decorrelated Portfolio will be broadly diversified across non-equity related strategies, including credit, convertible bond arbitrage, commodities, Macro/CTA, quantitative equity market neutral and asset-backed lending.’
Altedge Capital was founded in 2001 by Goekjian, the former global head of fixed income and derivatives at Credit Suisse. The firm’s flagship fund is the Altedge Diversified Fund SPC Balanced Portfolio.
Adds AltEdge president Eric de Candia: ‘By targeting strategies with a low correlation to equity indices, the Decorrelated Portfolio provides a valuable diversification tool within a balanced investment portfolio from the cyclicality and volatility of equity markets, and will also be a valuable engine for portable alpha strategies.’
