Calamos and Aksia have expanded their AC Private Markets partnership with the launch of the Calamos Aksia Hedged Strategies Fund (HEDGX) providing providing with access to a diversified portfolio of hedge fund managers in a single actively managed vehicle.
HEDGX is the third interval fund under the AC Private Markets banner, following the Calamos Aksia Alternative Credit & Income Fund (CAPIX) and Calamos Aksia Private Equity & Alternatives Fund (CAPVX). The new fund focuses on low equity beta exposures across strategies including relative value, multi-strategy, tactical trading, event-driven, and long/short equity.
Formerly a private fund, HEDGX delivered a net return of 9.21% through 31 August 2025, outperforming the HFRI FoF Conservative Index (6.03%) and the Bloomberg US Aggregate Bond Index (6.43%) since its June 2024 inception. Transitioning to a 1940 Act interval fund on 1 October, HEDGX is now available to both accredited and non-accredited investors, offering quarterly liquidity of up to 5% and no incentive fees.
The launch aligns with Aksia’s recent research showing institutional hedge fund allocations increasingly prioritising diversification characteristics to enhance portfolio resilience, rather than tracking broader industry trends.
