Arden Asset Management has launched an open-end mutual fund, the Arden Alternative Strategies Fund, with more than USD700m in assets, which offers investors access to professionally-managed hedge fund strategies.

The fund seeks to achieve a relatively low correlation to the major equity and fixed income markets in a daily liquidity format.

The fund complements Arden's core business of providing customised hedge fund solutions, managed accounts, commingled vehicles and other vehicles for its global institutional and pension fund clients.

Averell H Mortimer, president and chief executive officer, says: “As the global population lives longer and takes greater control over their financial planning, there is a growing need for access to alternative investment products, particularly in the defined contribution area. We are thrilled to offer diversified, alternative investment strategies through our innovative daily liquidity product. Delivering greater access and choice is clearly the wave of the future and we believe our program is an excellent way to add portfolio diversification and represents a landmark in expanding the investable universe for retirement assets. We think this fund is a real game changer.”

The Hedgeweek Awards 2013 for the best hedge fund performers and service providers will be held in London towards the end of Q1 2013. Please click here to nominate your product/firm.

The Wealth Adviser Awards 2013 for the top wealth manager and service providers will be held in London towards the end of Q1 2013. Please click here to nominate your product/firm.