Firms Launch Absolute Return Fund

A news release said the fund follows a risk-managed absolute-return strategy and is managed by Andrew W. Lo. The fund is designed to provide absolute returns with diversification benefits, while also offering daily liquidity, transparency, and volatility controls.

“The largest source of risk in many investors’ portfolios is equity market risk,” said Lo. “We designed this fund to answer a broad-based need for portfolio diversification with low to negative long-run correlation to the major equity markets within a liquid and transparent mutual fund vehicle.”