Navellier & Associates, an equity investment manager which has $2.5 billion under management, and its affiliate Navellier Hedge Management launched Navellier Select. The new fund of funds is a dynamically managed portfolio of seven to 12 hedge funds managing over $3.4 billion in combined assets.
Launching a new fund of funds product in an already crowded market will be a challenge but Louis Navellier, chief investment officer, is not deterred. Pete Knapp, chief financial officer, explained that the fund took almost three years of work and analysis prior to launch. "First we identified what sources of return different managers