Long/short funds have been all the rage lately in the fund industry, but one company has found that the strategy doesn't necessarily translate to more dollars. According to an SEC filing
, the board of trustees of Natixis Funds Trust I greenlighted a liquidation plan for the fund on or about August 22.
Morningstar's Fund Times column
, Miriam Sjoblom notes that the fund currently has $42 million in assets, a 11.5 percent drop off since August 2007, when it changed its name and mandate to reflect a hedge-like strategy. The S&P 500 only lost eight percent over the same period.
In other fund news, AllianceBernstein
will be consolidating two of its international stock funds, according to an
. The AllianceBernstein International Research Growth Fund
, with an AUM of $360 million, will be merged into the $3.6 billion AllianceBernstein International Growth Fund
early in the third quarter.
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