RiverPark Advisors has introduced the RiverPark/Gargoyle Hedged Value Fund, a conversion of the Gargoyle Hedged Value Fund LP, which has a 12-year performance record as a hedge fund.
The fund is sub-advised by Gargoyle Investment Advisor, with Gargoyle’s co-founders Alan L Salzbank and Joshua B Parker as co-portfolio managers. Salzbank and Parker have more than two decades of experience developing and managing options strategies, and have acted as co-portfolio managers on the Gargoyle Hedged Value Fund L.P. since its inception.
RiverPark/Gargoyle Hedged Value Fund employs two time-tested investment strategies – value-oriented stock investing and index option over-writing – in seeking to provide long-term capital appreciation with lower risk than the broad stock market.
"The RiverPark/Gargoyle Hedged Value Fund seeks to provide investors a conservative way to gain market exposure in today’s challenging investing environment," says Josh Parker, President of Gargoyle. "By selling index call options, the Fund seeks to generate an income cushion to partially hedge its long equity positions."
The RiverPark/Gargoyle Hedged Valued Fund will generally stay fully invested in the equity securities of medium-to-large capitalisation companies, which is currently defined as those with a minimum of USD1.5 billion in market value. It will partially hedge the stock portfolio by selling near-term index call options.
The RiverPark/Gargoyle Hedged Value Fund is being offered in two share classes – Retail and Institutional, with expense ratios of 1.50% and 1.25% respectively.
