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Rating:Natixis Serves Up Another Hedge-Like Mutual Fund Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, August 03, 2009

Natixis Serves Up Another Hedge-Like Mutual Fund

by: Meredith Mazzilli

The latest in a spate of hedge-fund-like mutual funds has hit the shelves. Natixis revealed Monday that it launched a multi-strategy, absolute return fund managed by the AlphaSimplex Group, which Natixis acquired in 2007. A shares of the Natixis ASG Diversifying Strategies Fund come with an expense ratio of 174 basis points, while C shares sport a 249 basis point expense ratio.

Dr. Andrew Lo
AlphaSimplex
Chief Investment Strategist
The fund pursues an absolute return strategy and will attempt to manage a low-to-negative correlation with major equity indexes.

Natixis executives are pitching the product as the first mutual fund designed manage a minimal or negative long-term correlation with the S&P 500.

This is the second mutual fund from AlphaSimplex, which in October last year launched the Natixis ASG Global Alternatives Fund based on a hedge fund industry beta replication strategy.

"The latest ASG fund is a result of our innovative approach to mutual fund development, said Natixis Global Asset Management president and CEO John Hailer.

The launch coincided with a Wall Street Journal article that took a look at the broadening field of hedge-like mutual fund strategies. Dr. Andrew Lo, who is ASG's chief investment strategist, was quoted in the article.

"Part of hedge-fund returns come from investing in illiquid securities," Lo noted. "But we can replicate the liquid portion."

 

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