Van Eck Launches Multi-Manager Alternatives Mutual Fund; Designed for Retail Investors Seeking Exposure to Hedge-Style Invest...
2009年6月23日 - 10:30PM
ビジネスワイヤ(英語)
Van Eck Global is building on its experience in developing and
managing multi-strategy, multi-manager investment products with the
launch of its new Van Eck Multi-Manager Alternatives Fund
(ticker: VMAAX), an open-end mutual fund designed to give investors
exposure to a variety of investment strategies, including absolute
return strategies. This launch was a natural fit for Van Eck, as
the firm has been managing a similar strategy for over six years as
an investment option for variable life and variable annuity
insurance contracts.
In announcing the Fund, Harvey Hirsch, senior vice president of
marketing at Van Eck, noted that the global financial crisis has
made it increasingly clear that a well-allocated portfolio should
include exposure to more alternative, hedge-style strategies. The
firm anticipates that the new fund will appeal to both individual
and institutional investors who want access to the potential
benefits of alternative investing but with lower costs and greater
transparency and liquidity as compared to an investment in a
private hedge fund.
�This fund may give investors access to sophisticated asset
management strategies in a single portfolio, providing
diversification, hedging potential, and in some cases, it may
capitalize on market dislocations as they develop globally,� said
Hirsch.
Though interest in alternative strategies has grown
significantly over the past decade, the asset class has generally
been inaccessible to the average retail investor. High net worth
requirements, a general lack of transparency, and concerns over
liquidity and long lock-up periods have kept many investors on the
sidelines. By way of contrast, the new Van Eck fund offers daily
liquidity, no net worth restrictions, a high degree of transparency
and daily net asset valuation. The fund must also adhere to same
SEC regulations that apply to all similarly situated open-end
mutual funds.
VMAAX�s multi-manager approach allows for a diversified mix of
sub-advisors, open- and closed-end funds and exchange-traded funds
(ETFs) as its underlying investments. It seeks to achieve
consistent absolute (positive) returns in various market cycles.
The Fund can employ both arbitrage and directional long/short
strategies, among others. Arbitrage strategies seek to exploit
pricing discrepancies between closely related securities and can
focus on fixed income, credit, convertibles and an equity
market-neutral approach, while directional strategies seek to
benefit from broad trends in equities, interest rates or commodity
prices.
In identifying and selecting available managers for the Fund,
Van Eck relies upon its own in-house expertise as well as research
from Explorer Alternative Management, a dedicated manager research
group with an extensive database of managers and hedge-style
funds.
"We are excited to assist in the due diligence and manager
selection for such an innovative investment product,� said Stephen
Scott, partner at Explorer Alternative Management. �As the
investment industry continues to evolve, we believe Van Eck is
uniquely positioned to provide mutual fund investors with the
benefits of alternative manager performance."
The Fund will be available in two share classes: A (VMAAX) and I
(VMAIX). Minimum investment is $5,000 for A shares. Estimated gross
expenses for the Fund are 3.53% for A shares and 3.28% for I
shares. Expenses are capped at 2.40% and 2.15%, respectively.
Please carefully read the prospectus for additional Fund
information and contact a sales specialist at 800.826.2333 for more
information.
About Van Eck Global
Founded in 1955, Van Eck was among the first U.S. money managers
helping investors achieve greater diversification through global
investing. Today, the firm continues its 50+ year tradition by
offering global investment choices in hard assets, emerging
markets, precious metals including gold, and other specialized and
alternative asset classes. In recent years, the firm�s visibility
has grown due to its Market Vectors line of ETFs. Van Eck is
currently the sixth largest provider of ETFs in the U.S.
You can lose money by investing in the Fund. Any investment in
the Fund should be considered part of an overall investment
program, not a complete program. The Fund and its Sub-Advisors will
use aggressive investment strategies that are riskier than those
used by traditional mutual funds. As a result, the Fund is subject
to risks associated with investments in foreign markets, emerging
market securities, small-cap companies, debt securities,
derivatives, commodity-linked instruments, illiquid securities,
asset-backed securities, CMOs and other investment companies.
Please see the prospectus for information on these and other
risk considerations.
Investing involves risk, including possible loss of
principal. An investor should consider investment objectives,
risks, charges and expenses of the investment company carefully
before investing. To obtain a prospectus, which contains this and
other information, call 1.800.826.2333 or visit www.vaneck.com.
Please read the prospectus carefully before investing.
Van Eck Securities Corporation,
Distributor, 335 Madison Avenue, New York, NY 10017
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