Tony Elavia, senior managing director and chief investment officer, NYLIM Equity Investors Group, noted in a press release that traditional long-only strategies have restricted the firm’s portfolio managers’ ability to capitalize on NYLIM’s research and that the new absolute return strategies will allow them to do so. In addition, institutional investors have struggled to meet required return benchmarks using long-only strategies, according to the press release.
Harvey Fram who leads EIG’s large cap enhanced investment team, now runs a US core market neutral strategy and will soon introduce a 130/30 strategy, the press release said. In addition, Luke Smith, head of EIG’s international quantitative equity investment team, runs a European and Asian market neutral strategy with plans to introduce 130/30 strategies as well.
Since January, EIG has launched four market neutral strategies and plans to introduce a 130/30 strategy before year end.
More information is at www.nylim.com .