Mellon Financial has introduced the Global Alpha Fund, a mutual fund that employs a number of macro hedge fund strategies, HedgeWorld News reports.

Replicating the strategy in one of Mellon's institutional portfolios, the fund invests in wide number of geographies and asset classes, including derivatives, futures, swaps, options and structured notes, and also employs short selling and leveraging. Most of the portfolio will be invested in developed nations, but the fund has the option to put as much as 20% of assets in emerging markets. Sixty percent of the fund will go to stocks and the remaining 40% to fixed income.

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