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Alternative Market Briefing

More mutual funds with hedge fund structures crop up, Bandon Capital Mngmt announces new absolute return long/short FI fund

Wednesday, April 13, 2011

Chris Wolf
From Kirsten Bischoff, Opalesque New York:

Oregon-based Bandon Capital Management has launched Bandon Isolated Alpha Fixed Income Fund, the absolute return long/short fixed income mutual fund that the firm first announced in December 2010. The Fund, which is to be sub advised by Philly-based Logan Circle Partners and New York-based Dix Hill Partners, is meant to answer investor concerns about the risks of long-only investment strategies and the impact of rising rates on fixed income portfolios.

"We believe this fund represents a solution for both those concerns by having the tactical flexibility to nimbly navigate volatile markets and the philosophical disposition to have no long or short bias," said Bandon Managing Principal Bill Woodruff in a statement released by the firm.

Mutual funds with hedge fund structures have grown in popularity in the wake of the 2008 financial crisis. "Alternatives mutual funds have been the fastest growing area in the mutual fund industry by far over the last five years, outpacing even commodities funds, with none of the asset loss suffered by 95% of the rest of the industry. Assets in alternatives mutual funds grew during 2006-2008 at a 30% annualized compound growth, and since then have increased in 2009-2010 to a rate of 50-55% annualized growth," comme......................

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