The folks at a 15-year-old mutual fund firm are deepening a $2.9-billion-AUM relationship.
| Jerry Szilagyi|
Catalyst Capital Advisors LLC
President, CEO, Co-Founder
On Tuesday, David Miller
, chief investment officer of Huntington, New York-based Catalyst Capital Advisors'
] Catalyst Funds, confirmed
that New York City-based Millburn Ridgefield Corporation
has become the subadvisor on the Catalyst Hedged Commodity Strategy Fund
. The $13.3-million-AUM mutual fund, which will reach its six-year anniversary on September 30, has been rebranded as the Catalyst/Millburn Dynamic Commodity Strategy Fund
The rebranded fund is now PMed by a trio of Millburn executives: Harvey Beker
, chairman; Barry Goodman
, co-CEO and executive director of trading; and Grant Smith
, co-CEO and CIO. The fund was previously PMed by Catalyst's own Kimberly Rios
The Catalyst and Millburn folks have already worked together for more than four years: Millburn has been subadvising the Catalyst/Millburn Hedged Strategy Fund (also with Smith, Goodman, and Beker PMing) since it launched in December 2015. That fund now has $2.9 billion in AUM.
"This is an opportune time for us to offer investors a distinct commodity strategy from a manager that has a deep understanding of the asset class and systematic investment strategies," Miller states.
Goodman puts Millburn's taking over of the commodity strategy fund in the context a "recent confluence of factors, including the injection of liquidity by central banks and governments, ramp-ups in infrastructure spending, and the increasing adoption of ESG policies."
Editor's Note: A prior version of this story gave the wrong age for the fund formerly known as the Catalyst Hedged Commodity Strategy Fund. The fund's sixth anniversary is coming up in September.
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