Cutler Capital Management has launched the Cutler Absolute Return Fund, which aims to provide institutional investors with positive returns, regardless of the market direction.

Geofrey K. Dancey and Arthur Raskin will co-manage the fund, investing in and hedging convertible securities.

“In today’s volatile market, the Cutler Absolute Return Fund can help institutional investors preserve and enhance their portfolios, without exposing their assets to unnecessary risk,” said Cutler President David Grenier.

Based in Worcester, Mass., Cutler has more than $240 million in assets under management.

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