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Alternative Market Briefing

Context Asset Management launches with new mutual fund product

Tuesday, April 01, 2014

Bailey McCann, Opalesque New York:

Another new entrant to the liquid alternatives space - Context Asset Management has launched a new mutual fund Context Alternative Strategies Fund (CALTX), a multi-manager, multi-strategy fund. Context principals Steve Kneeley and John Culbertson have prior experience managing a fund and family office respectively. Context Asset Management is located in Pennsylvania, and aims to provide investors with access to higher quality managers than one might otherwise find in a liquid alternatives product.

"We think the quality of sub-advisors in a lot of these products isn't particularly high," Culbertson, Managing Director and Chief Investment Officer of Context, tells Opalesque. "We're created the first fund with managers that we think offer a higher level of quality. A startup fund probably isn't for us in terms of a sub-advisory relationship."

As with most multi-manager funds CALTX's aim is to provide a lower volatility, low correlation product. "We're looking at a variety of strategies, equity long/short with a long bias is one that really works well in this structure," Culbertson says. Later on the firm plans to use its pipeline of potential sub-advisors to look at funds with particular specialties.

"There are managers out there who often do one thing really well so we're looking to work with those managers and let them come in as sub-advisors focusing on what they do best," Culbertson adds.

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