Chappaqua, New York-based- Alternative Investment Partners, LLC (AIP) says its new Alpha Strategies I Fund, will seek consistent absolute returns with a low correlation to traditional market indices.
AIP said the fund will put money in securities that offer strategic and tactical opportunities to employ relative value and arbitrage trading strategies in a variety of publicly traded securities. These securities may include common and preferred stock, other debt instruments including convertible debt, options and futures.
According to AIP’s announcement, each sub-adviser for the fund has a mandate in specific alternative investment strategies and techniques.
This approach is designed to:
- reduce overall portfolio risk
- dampen volatility
- enhance total returns
- minimize the fund’s correlation to equity and fixed-income market indices, while providing investors with consistent returns through a variety of market cycles.
A portfolio research-consulting firm that specializes in hedge fund-of-funds management has also been retained to assist in sub-adviser selection, portfolio allocation, ongoing portfolio analytics and sub-adviser performance monitoring.
The subscription period for Alpha Strategies I Fund, continues through September 19, 2002, with the fund actually starting to invest on September 20, 2002. During the subscription period, investors can invest in the Alpha Strategies I Fund at an offering price of $10.00 per share. The minimum initial investment is $25,000. AIP said.
AIP said the new product might be attractive to as institutional investors such as pension and retirement plan sponsors, endowments and foundations as well as clients of private bank, trust companies and financial planning firms.
To learn more about the Alpha Strategies I Fund, log onto http://www.aipfunds.com .