BIRMINGHAM, Ala. (HedgeWorld.com)–AmSouth Bank has agreed to distribute K2 Advisors LLC’s funds of funds to the bank’s high-net-worth clients and institutional investors.
According to AmSouth, the agreement with K2, New York, will give investors diversified exposure to more than two dozen hedge fund portfolios in a variety of strategies. K2 funds will be available to AmSouth’s institutional clients, such as endowments, foundations and pensions, with at least US$25 million in discretionary investments. Individual investors with at least US$5 million in discretionary investments will be offered the K2 hedge funds.
“Our clients look to AmSouth to provide investment planning and access to excellent financial products,” Joseph Keating, chief investment officer for AmSouth’s Wealth Management Group. “Our agreement with K2 will give our clients a broader range of alternatives to consider in asset allocation.” The wealth management group manages US$14 billion in discretionary assets.