Morgan Stanley Investment Management has launched a fund that will give investors access to long/short hedge fund managers worldwide.
The Morgan Stanley Global Long/Short Fund is a fund of hedge funds aimed at smaller institutional clients and high net worth individuals. The minimum investment is US$100,000..
“The Global Long/Short Fund offers investors the potential to capture the upside return of global equity markets while helping to reduce downside exposure,” says Mustafa Jama, head and chief investment officer of Morgan Stanley AIP’s fund of hedge funds team. “As such, it may serve as an attractive alternative to long only equities investing for those seeking to enhance the risk/reward profile of their equity portfolio.”
Intended to be managed for long-term capital appreciation, the fund is expected to have moderate volatility as compared with equity markets. By primarily investing in long and short equity strategies, the fund will allow hedge fund managers to take advantage of weaknesses across the global capital markets through leveraged or short-sale positions.
The Global Long/Short Fund will invest in approximately 20 to 25 long/short equity hedge funds.
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