HedgeCoVest continues to attract some of the largest managers in the industry to its real time hedge fund replication platform, with USD21bn fund manager Fred Alger Management the newest firm to join the roster.
HedgeCoVest’s revolutionary allocation tool, the Replicazor, mirrors the portfolio and trading strategies of hedge funds directly into an investor’s brokerage account. Part of HedgeCo Networks, the Florida based firm offers investors the chance to allocate to portfolios from a wide range of hedge fund products provided by managers.
“We are thrilled to announce the launch of the HedgeCoVest platform,” says Evan Rapoport, CEO/Founder of HedgeCoVest. “For the first time, investors of all sizes can invest with hedge fund managers in a secure, transparent, cost effective and liquid structure.”
Industry stalwart Fred Alger Management – joins the likes of USD10bn Cornerstone Capital, The Boston Company (USD50bn) and London-based Gems Advisors, with over USD2bn in assets in offering strategies on the platform.
“We are pleased to offer investors access to premium managers like Fred Alger Management,” says Rapoport. “Over 60 hedge fund models are signed to participate, and the response from fund managers and investors is amazing.”
The platform has an account minimum of USD30,000 and is open to both institutional/retail investors. “We believe the adoption of firms like Fred Alger Management is proof of the growing importance of retail investors to the hedge fund industry and a testament to our technology that we have been
working on for over four years.”
HedgeCoVest charges investors a 2.5% annualised management fee, a portion of which goes to the asset manager. Unveiled at the Finovate Conference in New York in September, HedgeCoVest was designed as a tool for all investors, the investment advisor community, family offices and fund of funds.
“Our partnerships with Interactive Brokers, Pershing Advisor Solutions and additional custodians will provide an unmatched, streamlined access to HedgeCoVest for investment advisors utilising an all in one solution for alternative and traditional investments,” says Rapoport.