Bank of America launched its first registered hedge fund of funds April 1.

BACAP Alternative Multi-Strategy Fund promises to achieve long-term capital appreciation with low volatility under a wide range of market conditions by investing in hedge funds across strategies. This closed-end investment company was registered late last year. Banc of America Capital Management alternative investments group is the manager.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.