Alternative investments

A group of eight competing alternative mutual funds have once again come together to launch a six-city tour that will gather advisors for discussions of alternative strategies and tips on how to build an alternative fund portfolio.

Gabelli Adds Hedge Fund Vet to Alt Unit

Pewaukee, WI-based Capital Innovations is currently prepping a fund that will bet on timber and farm-related, the Journal Sentinel reports.

AllianceBernstein has hired two new executives for its alternative business, which the firm has targeted for expansion.

Hatteras Funds has added Yuri Khalif as Executive Director for the Northeastern region.

Franklin Resources, the parent of Franklin Templeton Investments, has agreed to acquire a majority stake in K2 Advisors Holdings, a fund of hedge funds manager, from private equity shop TA Associates.

Palmer Square Capital Management this week added a merger arbitrage manager to its growing stable of alternative funds.

The Alternative Strategies Mutual Fund, a series of Northern Lights Fund Trust II, has bid farewell to a quartet of subadvisors, according to a Securities and Exchange Commission filing.

Orinda Asset Management, an independent, privately-held asset management firm, has launched the Orinda SkyView Macro Opportunities Fund (OMOIX and OMOAX), a multi-manager hedge fund offering.

Pyxis Capital has hired Stephen Dedyo as Head of National Accounts.

A managed futures stalwart is making its way into the mutual fund world via a trust.

Investors with at least $25 million in net worth are boosting their exposure to alternative investments. At the same time, these UHNW households are keeping some money in familiar territory: tax-free municipal bonds. The Spectrem Group, a Chicago-based consulting firm, reached those conclusions in recent online and mail surveys.

Third Avenue Management has named David Resnick as president and a member of its investment team.

Neuberger Berman Group has launched the Neuberger Berman Risk Balanced Commodity Strategy Fund (NRBAX, NRBCX, NRBIX), an active, diversified commodity investment strategy that includes exposure across 25-30 commodities across six industry sectors.

Fund administrator Gemini Fund Services has new leadership in place, new headquarters in New York, and is making strides in the alternative mutual fund and exchange-traded fund arenas.

By the end of last year, assets under management in global alternative investments hit $6.5 trillion, having grown seven times faster than traditional asset classes over the previous five years. This is according to a new McKinsey & Company study that predicts this growth represents only the beginning of a new wave of assets moving into alternatives.

The Triex Tactical Long/Short Fund, a separate series of the Northern Lights Fund Trust, is shutting down on September 27.

Herb Morgan has a good barometer to tell how hot the market for exchange-traded funds is getting.

Preparation is the key to a successful audit. The following guidelines will help your firm smoothly navigate the regulatory audit process and manage any possible surprises.

BlackRock is cutting fees for its large exchange-traded funds next quarter in response to pricing pressure from the Vanguard Group, Bloomberg reports.