The folks at a 15-year-old mutual fund firm are deepening a $2.9-billion-AUM relationship.
| Jerry Szilagyi Catalyst Capital Advisors LLC President, CEO, Co-Founder | |
On Tuesday,
David Miller, chief investment officer of Huntington, New York-based
Catalyst Capital Advisors' [
profile] Catalyst Funds,
confirmed that New York City-based
Millburn Ridgefield Corporation has become the subadvisor on the
Catalyst Hedged Commodity Strategy Fund. The $13.3-million-AUM mutual fund, which will reach its six-year anniversary on September 30, has been rebranded as the
Catalyst/Millburn Dynamic Commodity Strategy Fund.
The rebranded fund is now PMed by a trio of Millburn executives:
Harvey Beker, chairman;
Barry Goodman, co-CEO and executive director of trading; and
Grant Smith, co-CEO and CIO. The fund was previously PMed by Catalyst's own
Kimberly Rios and Miller.
The Catalyst and Millburn folks have already worked together for more than four years: Millburn has been subadvising the Catalyst/Millburn Hedged Strategy Fund (also with Smith, Goodman, and Beker PMing) since it launched in December 2015. That fund now has $2.9 billion in AUM.
"This is an opportune time for us to offer investors a distinct commodity strategy from a manager that has a deep understanding of the asset class and systematic investment strategies," Miller states.
Goodman puts Millburn's taking over of the commodity strategy fund in the context a "recent confluence of factors, including the injection of liquidity by central banks and governments, ramp-ups in infrastructure spending, and the increasing adoption of ESG policies."
Editor's Note: A prior version of this story gave the wrong age for the fund formerly known as the Catalyst Hedged Commodity Strategy Fund. The fund's sixth anniversary is coming up in September. 
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