From the June 01, 2011 issue of Futures Magazine • Subscribe!

Old names get some new business

Managed Money Review

Ssaris Advisors’ Fund of Hedge Fund was hired by the Kansas City Police Employees’ Retirement System (KCPERS) to manage its entire fund of hedge fund allocation. According to reports KCPERS plans on allocating 10% of its approximate $775 million pension fund to this area.

Ssaris Chairman and Chief Investment Officer Mark Rosenberg says, "It is a very important assignment. It is an honor to manage money for them."

Rosenberg attributed the allocation to Ssaris’ strong risk-adjusted performance, its divergent/convergent investment philosophy and its relationship with State Street Global Advisors.

State Street acquired a majority interest in Ssaris in 2001 but Ssaris, formerly RXR Capital Management, maintained a 40% ownership in the firm.

"The structure that we have with State Street is very comforting to an investor because we have the very large parent that monitors us, yet we have the flexibility of an entrepreneurial affiliate," Rosenberg says.

Rosenberg developed his philosophy of including convergent hedge fund strategies along with divergent strategies such as managed futures 30 years ago. It helped Ssaris outperform other fund of funds, especially in 2008, that did not include divergent strategies.

Dunn to launch UCITS fund

In another sign that retail investors throughout the world are gaining access to alternative investment strategies, ML Capital announced in May that Dunn Capital Management would launch its WMA UCITS Fund on ML Capital’s Montlake Platform. The Dunn diversified long-term trend-following WMA program has produced a compound annual return of 14.61% since launching in 1984.

UCITS stands for Undertakings for Collective Investment in Transferable Securities. They are retail oriented funds authorized by member states of the European Union. Martin Bergin, president of Dunn, said in a release, "We are pleased to provide the European investment community access to our WMA Program through a UCITS-compliant vehicle."

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