Arden Asset Management is launching its second fund aimed to give retail investors access to hedge funds.
Reuters reported that New York-based Arden Asset, which has been offering retail clients at Fidelity the option to invest in hedge funds, started a new mutual fund this week. Through the new offering, investors will be able to gain access to hedge fund industry giants such as D.E. Shaw Investment Management, CQS and nine other firms.
The new fund currently has about $40 million in capital.
The so-called hedged-mutual funds use strategies that are typically reserved for hedge funds, while decreasing the minimum investment requirement. Most hedge funds usually mandate at least a $1 million commitment.
Arden manages approximately $6.1 billion in assets.