Launches & Closures Funds of Hedge Funds

Van Eck offers retail multi-manager fund


Van Eck Global has launched the Van Eck Multi-Manager Alternatives Fund, an open-end mutual fund designed to give retail investors access to absolute return strategies.

The firm has been managing a similar strategy for more than six years as an investment option for variable life and variable annuity insurance contracts.

Harvey Hirsch, senior vice-president of marketing at Van Eck, said that the global financial crisis has made it increasingly clear that a well allocated portfolio should have exposure to alternative, hedge-style strategies.

The fund can employ both arbitrage and directional long/short strategies, among others. Arbitrage strategies will seek