Close Close

Portfolio > Mutual Funds

Phoenix Funds Let Advisers Tiptoe into Market Neut

Your article was successfully shared with the contacts you provided.

HARTFORD, Conn. (–Phoenix Investment Partners unveiled two multi-strategy funds that offer retail investors and their investment advisers an introduction to the equity market neutral strategy.

The two funds, Phoenix Partners Select Wealth Builder and Phoenix Partners Wealth Guardian Funds, both carry fixed allocations to seven Phoenix mutual funds, including 5% to the Phoenix Market Neutral Fund, an existing market neutral mutual. Ten percent of each fund also is allocated to a real estate mutual fund.

The Wealth Builder fund has an 80/20 allocation to equities and fixed income, respectively, and the Wealth Guardian has a 60/40 split, with both funds carrying the alternatives allocation in the equity component.

John F. Sharry, president of Phoenix’ private client group, said the firm is trying to follow the lead of institutional investors who use alternatives to moderate volatility in their portfolio.

Phoenix also is working with LJH Global Investments, Naples, Fla., to sell a pure hedge fund of funds through investment advisers, the Phoenix LJH Advisors Fund LLC . That multi-strategy hedge fund of funds has finished the Securities and Exchange Commission registration process, and executives are working on arranging distribution, said a Phoenix spokeswoman.

[email protected]