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Rating:Alts Ain't All They're Cracked Up To Be Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 20, 2013

Alts Ain't All They're Cracked Up To Be

News summary by MFWire's editors

It pays to remember sometimes that "alternatives" is just another way to say "miscellaneous."

Reuters' Tim McLaughlin wrote a column on alternative strategy mutual funds an their growing popularity with retail investors, citing Fidelity's [profile] partnership with Blackstone to offer the Blackstone Multi-Manager Fund.

The funds are meant to give investors some diversification without all of the risks one would encounter in a pure hedge fund, McLaughlin writes, but not everything is peachy keen with alternative strategy mutual funds.

McLaughlin quotes a Morningstar research note written by Nadia Papiagiannis, saying on alt mutual funds, "There are problems with most of them."

McLaughlin cites Papagiannis' argument that these funds are usually overpriced, have a lot of subadviser overlap, and invest in little-known managers.

McLaughlin doesn't knock these funds entirely, adding that the Arden Alternative Strategies Fund lost 2.6 percent, which is better than the 5.5 percent loss incurred by the S&P 500 Index, rowing the low correlation with stocks can "come in handy."

To read more, click here.  

Edited by: Casey Quinlan


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