Institutional Investors

Kodak de-risks with liquid SMART Alpha seeding


Timothy Barrett
The $4.7 billion Kodak Retirement Income Plan seeded the SMART Alpha investment programme late last year. A move that preceded the plan sponsor Kodak filing for bankruptcy earlier this year.

The offering is from a firm called AlphaEngine Global Investment Solutions and focuses on absolute return strategies as a way to de-risk pension portfolios. The programme is essentially a macro fund and it features dynamic currency hedging. AlphaEngine trades in futures, forwards and options in equities, fixed income, commodities and FX. Very liquid, the strategy lends itself to delivery on either a fund