Absolute Investment Advisers (Absolute), a long-term client of the Apex Group (Apex), has closed its acquisition of Mohican Financial Management (Mohican).
Absolute is the fund adviser to the Absolute Convertible Arbitrage Fund (ARBIX) while Mohican Financial has been the Fund’s subadviser. The strategic transaction brings the two firms together.
Apex has worked with Absolute to support fund launches and provide ongoing fund services since its foundation in 2004. Absolute provides access to non-traditional investment strategies in mutual fund structures and continues to prove the value offered to investors by the asset class. In this case, the Absolute Convertible Arbitrage Fund (ARBIX) was launched on 14 August, 2017 with USD25 million in legacy assets and a 15-year track record. Fund assets under management have since grown to over USD525 million. Earlier this year ARBIX was named Lipper’s 2021 Best Alternative Equity Market Neutral Fund ranked one of 19 as of 11 March, 2021 for the three-year period.
“Convertible arbitrage is increasingly attractive to investors since it can complement either the fixed income or alternatives sleeve of a diversified portfolio. It may provide investors an opportunity for a moderate return with relatively low volatility, which is increasingly difficult to find in the current low interest rate environment. Convertible Arbitrage is, in our opinion, one of few strategies today that may consistently offer the potential for alpha and the team from Mohican has the experience, knowledge, and track record to execute on the opportunities present in the convertibles market,” explains Brian Hlidek, Managing Principal Sales & Marketing at Absolute.
Chris Koons, Head of Mutual Fund Services at Apex Group, says: “We truly value the collaborative relationship we have built with Absolute over the last 15 years, and are delighted to see such impressive growth with their latest product. We enjoy working on innovative products and our expertise and customized approach is well suited to Absolute’s service needs, in the past, present and future.”
David Faherty, General Counsel and CCO at Absolute, adds: “We have had a great working relationship with the Apex team who have consistently provided us with high quality fund administration, accounting, transfer agency and compliance services. Apex advice and support have played a vital role in the growth and success of ARBIX.”
