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Komfie Manalo, Opalesque Asia: U.S.-based asset management firm Van Eck Global announced two major recent changes to its lineup of funds.
With a change both of name, from the Van Eck Long/Short Equity Fund to the Van Eck Long/Short Equity Index Fund and in investment objective effective September 17, 2014, the Van Eck Long/Short Equity Index Fund became the first long/short equity index mutual fund to be offered in the United States. The firm also launched the Variable Insurance Portfolio (VIP) Long/Short Equity Index Fund, an investment option available within variable annuity contracts.
Both funds seek to track, before fees and expenses, the performance of the Market Vectors North America Long/Short Equity Index (MVLSNATR Index).
"These funds are unique because they offer investors access to other risk and return profile of an index of long/short equity hedge funds, with all the liquidity and transparency benefits of a mutual fund, and a net expense ratio that is well below the Morningstar Long/Short Equity category average," said David Schassler, Director of Manager Research at Van Eck Global.
"While this innovative strategy has been utilized by institutional investors through separately managed account since 2011, we are now excited to make it more broadly accessible. We believe that this launch is timely given the rising concerns about high fees and the variability of returns associated with individual h...................... To view our full article Click here
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