Interval Funds
Apr 04. 18:57
First Trust registers First Trust Hedged Strategies Fund

First Trust Capital Management L.P. has launched a new interval fund called the First Trust Hedged Strategies Fund, which will offer two classes of shares to achieve long-term capital appreciation by investing in private investment funds managed by third-party managers. The Fund will invest at least 80% of its net assets in a portfolio of Investment Funds that follow a variety of alternative investment strategies. The allocation among Investment Funds will change over time in response to market opportunities.
The Fund will seek to qualify as a regulated investment company under the Internal Revenue Code of 1986. Managed by Chicago-based First Trust Capital Management L.P., the Fund is a fund of hedge funds that seeks to invest primarily in private investment funds managed by multiple third-party investment managers. Because Investment Funds often employ alternative investment strategies, the Fund's investment program can be referred to as a fund of hedge funds.
In short, the First Trust Hedged Strategies Fund is a new interval fund that seeks long-term capital appreciation by investing primarily in private investment funds managed by third-party managers. With at least 80% of its net assets allocated to Investment Funds, the Fund will pursue a variety of alternative investment strategies to respond to changing market opportunities. And, managed by First Trust Capital Management L.P., the Fund aims to qualify as a regulated investment company under the Internal Revenue Code of 1986.
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