Hedge Funds

Morgan Stanley acquires Boston hedge fund


Morgan Stanley Investment Management announced on Thursday that it had acquired Oxhead Capital Management, a Boston-based hedge fund firm with roughly $100 million in assets under management.

Oxhead was launched in October 2003 by Robert Swift, Nathan Eigerman and Daniel Phipps, who all previously worked at Putnam Investments. The fund's investment team, led by Swift and Eigerman, pursues a market-neutral global equity strategy using both quantitative and fundamental research. The approach is designed to produce returns similar to those of the equity markets, but aims to do so with lower volatility and zero correlation to the major equity indices.