Candriam launches equity market neutral fund

IndicesCandriam Investors Group has launched a long-short equity fund that employs a market neutral strategy. The manager, which has €94 billion of assets under management and is owned by New York Life Investment Management says the Candriam Alternative Return Equity Market Neutral Fund will take long and short positions on worldwide equity indices and their constituents while keeping a net equity exposure of less than 25%. Equity market neutral strategies always seek to deliver a positive absolute return regardless of market conditions, said Fabrice Cuchet, chief investment officer of alternative investments at the firm. He added that Candriam’s team has a 13-year track record in market neutral investing. Candriam developed its first equity market neutral strategy in 1997. The new fund is registered for sale in Luxemburg, France, Italy and the UK and aimed only at professional investors. ©2016 funds europe

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