Scalper1 News
By DailyAlts Staff Just last week, Columbia Management announced the launch of a new alternative mutual fund, the Columbia Adaptive Alternatives Fund (MUTF: CLAAX ), in partnership with Blackstone Alternative Investment Advisors. The same day that partnership was announced, Columbia also filed paperwork with the SEC to shutter four of its own mutual funds, three of which are alternative funds: The Columbia Absolute Return Emerging Markets Macro Fund; The Columbia Absolute Return Enhanced Multi-Strategy Fund; and The Columbia Absolute Return Multi-Strategy Fund. The Emerging Markets Macro Fund The Columbia Absolute Return Emerging Markets Macro Fund (MUTF: CMMAX ) had $72.6 million in assets under management (AUM) as of February 1. The long/short emerging market debt fund had a 3-year return as of 12/31/14 of 0.15%, ranking it in the 88th percentile in Morningstar’s non-traditional bond fund category and trailing the category average by 3.13%. The Enhanced Multi-Strategy Fund The Columbia Absolute Return Enhanced Multi-Strategy Fund (MUTF: CEMAX ), an alternative multi-asset fund, had $99 million in AUM as of February 1, and generated a 1.21% return for the 3-year period ending 12/31/14 versus a return of 4.16% for Morningstar’s multi-alternative category for the same period. The Multi-Strategy Fund The Columbia Absolute Return Multi-Strategy Fund (MUTF: CMSAX ) is also an alternative multi-asset fund, and had just $15.9 million in AUM as of February 1. Through 12/31/14, the fund generated a 3-year return of 0.60%, ranking it in the 86 percentile of Morningstar’s multi-alternative category. Conclusion The non-alternative Columbia Masters International Equity Portfolio (MUTF: CMTAX ) is also being liquidated. The fund’s 3-year return of 9.25% trailed the foreign large-blend category by 0.97% and outperformed the MSCI All Country World (ex-US) Index by 0.25%. Effective February 2, the four funds stopped accepting new investors. The SEC filing announcing the fund closures said the liquidations are expected to be complete by March 6. Are you Bullish or Bearish on ? Bullish Bearish Neutral Results for ( ) Thanks for sharing your thoughts. Submit & View Results Skip to results » Share this article with a colleague Scalper1 News
Scalper1 News