With Three Alts in Its Cap, Firm is Hungry for More
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Monday, November 04, 2013

With Three Alts in Its Cap, Firm is Hungry for More


Touchstone [profile] president Steve Graziano is hankering for some more alt subadvisors.

The ambitious fund executive, who wants to double his firm's AUM to $30 billion using what he calls a "Center City" approach to sales, also wants to expand his firm's alts product lineup.

The firm launched its third alt fund in mid-October, the Touchstone Arbitrage Fund -- sub-advised by Longfellow Investment Management. Longfellow also serves as subadvisor to the Touchstone Merger Arbitrage Fund, launched in August 2011, currently has assets of $687 million.

Graziano said he and his colleagues are willing to look at all alt strategies. The long short category, he said, would be the largest category affording "us with the most opportunity." However, he said they also like global macro, but not managed futures, "that's kind of been there, done that."

"Global macros and long short would probably be where we would see the most action or event-driven strategies like merger arbitrage."

What would an alts subadvisor get out of partnering with Touchstone, access to a rapidly growing market that they couldn't get into themselves, the retail marketplace through financial advisor.

"I'm not in search of a flash in a plan. The type of advisors that I would want are those willing to help grow the business and has an eye towards the tools that help advisors address their biggest concerns."

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