Highland Funds Asset Management has launched the Highland Alpha Trend Strategies Fund, a global fund that will invest in country- and region-specific exchange-traded funds as well as take long and short positions in equity indexes. The fund aims to invest in areas with low correlation and volatility.

Anchor Capital Management Group will sub-advise the fund, using a quantitative methodology to react to macroeconomic and market changes.

“In a volatile global market, the addition of Anchor Capital’s strategy provides investors with a new international option,” said Joe Dougherty, president of Highland Funds. “We look forward to bringing Anchor Capital’s global long/short expertise for the benefit of our investors.”

Eric Leake, chief investment officer of Anchor Capital and co-portfolio manager of the fund, added: “Global equity markets have become more correlated, increasing the need for a multi-strategy, long/short approach to international investing. With our focus on exploiting a variety of short-, intermediate- and long-term trends, we believe this is an ideal environment for a global long/short equity strategy.”

-- This article first appeared on Money Management Executive.