] is re-launching a year-old mutual fund, without changing its nuts and bolts much.
Last week the New York City-based mutual fund shop unveiled
the Van Eck Long/Short Equity Index Fund
, previously called the Van Eck Long/Short Equity Fund
. Yet not much changed.
"The strategy was managed the same way," explains David Schassler
, director of manager research at Van Eck.
The fund originally used a total return objective. Van Eck has been running the strategy for three years, and a year ago Van Eck launched a mutual fund version. Now the strategy has been formalized in an index, the Market Vectors North American Long/Short Equity Index
The fund has about $5 million in assets. Van Eck also launched a variable annuity version of the fund.
Stay ahead of the news ... Sign up for our email alerts now