American Beacon Launches Multi-Manager Long/Short Fund

By | October 6, 2015

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By DailyAlts Staff Multi-manager alternative mutual funds often give retail investors access to managers that were previously exclusive to institutions and high-net-worth individuals. The recently launched American Beacon Grosvenor Long/Short Fund (MUTF: GSVAX ) is one such fund, as it pursues a long/short global equities strategy under the guidance of GCM Grosvenor, one of the largest and most diversified independent alternative asset management firms in the world. “Providing our clients access to alternative sources of diversification has been a focus for American Beacon as we’ve looked to evolve our product line,” said American Beacon CEO Gene L. Needles, Jr., in a recent statement. “Our collaboration with GCM Grosvenor, one of the world’s most experienced and well respected hedge fund investors, on this new fund is another example of that strategy at work.” The new fund’s objective is to provide investors with long-term capital appreciation with a “balanced risk profile” intended to complement traditional long-only equity investments. The fund’s flexible mandate and multi-manager structure are intended to increase performance consistency and to dampen portfolio volatility. Grosvenor’s Director of Investments David Richter, Head of Portfolio Management Bradley Meyers, and Vice President Keith Friedman are the fund’s portfolio managers. Richter, Meyers, and Friedman have been in the industry since 1994, 1999, and 2002, respectively, and they will allocate the fund’s investments across the following underlying sub-advisors: Basswood Capital Management Impala Asset Management Incline Global Management Passport Capital Pine River Capital Management River Canyon Fund Management Tremblant Capital Group “Our specialized investment team is among the largest and most experienced in the industry, and this fund’s underlying hedge fund managers have strong capabilities in long/short investing,” said GCM Grosvenor CEO Michael Sacks. “This is a tremendous opportunity to deliver an exciting investment solution to the marketplace.” Shares of the fund are available in A ( GSVAX ), C (MUTF: GVRCX ), Y (MUTF: GVRYX ), institutional (MUTF: GVRIX ), and investor (MUTF: GVRPX ) classes. The investment management fee across all share classes is 1.55%, while A, C, and Y shares have respective net-expense ratios of 2.97%, 3.72%, and 2.67%; and institutional and investor class shares have respective fees of 2.57% and 2.97%. A and investor-class shares have an initial minimum investment of $2,500. The initial minimums for C and Y shares are $1,000 and $100,000, respectively, while the minimum for institutional shares is $250,000. For more information, download a pdf copy of the fund’s prospectus . Scalper1 News

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