JPMorgan Chase has launched a new mutual fund that its hedge fund manager, Highbridge Capital Management, will oversee, The New York Times reports.
Called the Highbridge Statistical Market Neutral Fund, its minimum investment is a mere $10,000, as opposed to the $10 million minimum Highbridge typically charges.
The fund is a perfect example of how the once-exclusive industry continues to become more accessible to lower-asset persons. The new fund's investment team is comprised of mathematicians and experts in computer science whose strategy is based on using an investment model that analyzes stock performance over time. This team has proved itself as the best-scoring at Highbridge this year.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.