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Alternative Market Briefing

Franklin Templeton & K2 Advisors launch '40 Act fund

Wednesday, November 20, 2013

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David C. Saunders
Bailey McCann, Opalesque New York:

Franklin Templeton and K2 Advisors have launched a multi-manager, multi-strategy mutual fund focused on alternative investment strategies, the Franklin K2 Alternative Strategies Fund. The fund is designed to be roughly similar to the K2 flagship fund. Franklin Templeton took a majority stake in K2 last year.

As the Fund’s investment manager, K2 Advisors will dynamically allocate assets across multiple managers and alternative strategies, including event driven, global macro, long short equity and relative value. K2 Advisors will continually adjust the allocations to these strategies to reflect the team’s top-down market views with the goal of providing capital appreciation and lower volatility relative to the broad equity markets.

"I think this is maybe the time to launch a product like this given where the market is at," David C. Saunders, co-lead portfolio manager of Franklin K2 Alternative Strategies Fund and cofounding managing director of K2 Advisors tells Opalesque. "For the first time in markets you have a situation where bonds may not be the safe haven. Bonds have really had a 30 year bull market, but I think what happened in June was really a shot across the bow, and that increase in rates was a precursor of what is to come. I think you could see, for the first time, bondholders take losses on that paper. There is a demand with retail investors to find other solutions to add to the portfolio beyond ......................

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