LoCorr Funds is reducing the management fees for the LoCorr Macro Strategies Fund and the LoCorr Dynamic Equity Fund. Effective 18 October, the Macro Strategies Fund management fee has been reduced to 1.65 per cent, and the Dynamic Equity Fund management fee has been reduced to 1.50 per cent.
The Dynamic Equity Fund also reduced the expense cap by 0.91 per cent.
The LoCorr Macro Strategies Fund, launched in 2011, is a multi-manager fund combining established investment managers, each with a long history of investment expertise in the managed futures space, but managing distinct strategies: Graham Capital Management (founded in 1994 with over USD14.9 billion assets under management); Millburn Ridgefield (founded in 1971, with USD6.5 billion AUM); and Revolution Capital Management (founded in 2004, with USD530 million AUM). Each offers well-established strategies with long-term track records, and, when combined, delivers the potential for enhanced risk-adjusted returns. The Fund seeks to provide low correlation to nearly all asset classes, capital appreciation in rising or falling equity markets, and downside protection for traditional portfolios.
The LoCorr Dynamic Equity Fund, launched in 2013, takes long and short equity positions, leveraging the expertise of two experienced, research-driven investment managers. Billings Capital Management (founded in 2008, with USD149.1m AUM) and Kettle Hill Capital Management (founded in 2003, with USD595m AUM) seek to provide long-term capital appreciation with reduced volatility, compared to traditional broad-based equity indices. The Fund seeks to provide lower volatility than traditional broad-based equity markets, which can help preserve capital in down equity markets.
“We believe this move to reduce fees for the Funds will further benefit our shareholders who are seeking low-correlating investments,” says Kevin Kinzie, CEO of LoCorr Funds. “We believe these changes have the potential to make these funds some of the most competitive multi-manager investment solutions of their type in the industry. At LoCorr, we remain committed to assisting advisors and clients in diversifying portfolios, especially in what has been the longest bull market in history.”
