361 Capital, an asset management firm specialising in liquid alternative mutual funds, has filed with the Securities and Exchange Commission (SEC) to launch the 361 Global Long/Short Equity Fund.
Los Angeles-based Analytic Investors, which manages approximately USD10 billion in assets, will sub-advise the fund.
The 361 Global Long/Short Equity Fund will use the same investment strategy as the Analytic Global Long/Short Equity Portfolio, a separately managed account (SMA) which was launched in December 2009.
“The launching of this fund will provide a quality long/short mutual fund option to investors. There is clearly a shortage of attractive long/short equity mutual funds, and even more so funds that deliver global exposure,” says Tom Florence, chief executive of 361 Capital. “In Analytic Investors, we have a sub-advisor with more than 40 years of experience managing both traditional and non-traditional portfolios. Importantly, they have effectively been managing this strategy for almost five years.”
Founded in 1970, Analytic Investors is an employee-owned, boutique asset management firm specialising in quantitative investment solutions and portfolio management.
“We manage money for some of the world’s most sophisticated and demanding institutional investors, and look forward to bringing our investment focus to advisors and their clients,” says Harin de Silva, president and portfolio manager of Analytic Investors. “We have worked with the senior management at 361 in the past and believe they have the right approach to working with advisors, and will execute their plans for the growth of this fund.”
The fund will seek to achieve long-term capital appreciation. The fund also seeks to participate in rising markets and preserve capital in down markets.
The filing of the 361 Global Long/Short Equity Fund is the first of a series of funds the firm plans to offer that will be sub-advised by single managers. It also follows the launch of two new internally managed mutual funds, 361 Global Managed Futures Strategy Fund and 361 Global Macro Opportunity Fund, by the firm in the last five months.
In addition, effective 28 August the firm has changed the name of its 361 Long/Short Equity Fund to the 361 Market Neutral Fund. The renamed fund will maintain its investment strategy and track record, but will now be classified in Morningstar’s market neutral category.