Context Asset Management has launched the Context Alternative Strategies Fund (CALTX), a multi-manager, multi-strategy fund that seeks to deliver capital appreciation by emphasising absolute returns and low correlation to the broader US equity and bond markets.
The Context Alternative Strategies Fund pursues its objective by using various investment strategies and allocating its assets among multiple sub-advisors who employ a variety of investment strategies in pursuit of attractive returns consistent with capital appreciation.
Context selects and oversees the sub-advisors who each manage separate segments of the fund’s portfolio using distinct investment styles.
The investment strategies allow Context and the sub-advisors the flexibility to use leverage or short-sale positions to take advantage of perceived inefficiencies across the global capital markets in order to pursue their objectives.
“Diversified portfolios with low correlations between return drivers have tended to generate smoother, more efficient investment outcomes. Unfortunately, many traditional and so called alternative investments have not delivered on these measures,” says Andy Dudley, senior portfolio manager. “Our investment approach seeks to identify alternative strategies that are less connected to traditional market risks and that potentially offer a more efficient and diversifying return profile.”
The fund will be managed by Dudley and Jason Myers.
Dudley brings more than 23 years of industry experience in fixed Income investments, portfolio management and asset allocation to Context where he is responsible for investment policy, portfolio construction, risk management and manager selection for the firm’s multi-manager offering. Prior to joining Context he was the senior investment director in global asset allocation at Putnam Investments.
Myers, portfolio manager, is responsible for funds operations and investment activities including investment policy, portfolio construction, manager selection as well as serving on the investment committee. Prior to Context he was founder and managing director of ARIA, a registered RIA focusing on liquid alternatives.
The sub-advisers Dudley and Myers have selected for the Context Alternative Strategies Fund and their strategies are:
Highland Capital Management (specialty equity – energy & materials)
Phineus Partners (long-short equity – global)
Kellner Capital (merger arbitrage – global)
Weatherbie Capital (long-short equity – market neutral)
ESM Management (credit opportunities – structured credit)
Armory Funds (credit opportunities – high yield distressed debt)
First Principles Capital Management (relative value – fixed income)
Del Mar (volatility – managed futures)
