{"id":37594,"date":"2013-08-22T10:57:05","date_gmt":"2013-08-22T14:57:05","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=37594"},"modified":"2013-08-22T11:00:16","modified_gmt":"2013-08-22T15:00:16","slug":"blackstone-launches-multi-manager-fund-of-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2013\/blackstone-launches-multi-manager-fund-of-hedge-funds.html","title":{"rendered":"Blackstone Launches Multi-Manager Fund of Hedge Funds"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/hedgefundlaunch1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-19591\" alt=\"hedgefundlaunch\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/hedgefundlaunch1-300x231.jpg\" width=\"300\" height=\"231\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/hedgefundlaunch1-300x231.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/12\/hedgefundlaunch1.jpg 441w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; Hedge fund giant Blackstone Group, along with partners Fidelity Investments, said today that they, &#8220;Aim to expand their reach to retail clients and rid the hedge fund market of its perceived exclusivity,&#8221; with the launch of their Alternative Multi-Manager Fund.<\/p>\n<p>The new mutual fund of hedge funds was launched last month and has various sub-advisors. Fidelity&#8217;s Portfolio Advisory Service &#8211; which consists of funds with a minimum value of\u00a0$50,000\u00a0&#8211; has already invested nearly $1bn\u00a0in the fund.<\/p>\n<p>The new fund, managed by Blackstone&#8217;s hedge fund team, will have a net expense ratio of 2.40 percent &#8211; more than double the cost of a traditional mutual fund.<\/p>\n<p>&#8220;Despite the high costs, the Alternative Multi-Manager Fund allows retail clients access to hedge fund components usually restricted to financial experts, such as troubled debt, commodity speculation and shorting stocks.&#8221; Blackstone said.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Hedge fund giant Blackstone Group, along with partners Fidelity Investments, said today that they, &#8220;Aim to expand their reach to retail clients and rid the hedge fund market of its perceived exclusivity,&#8221; with the launch of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,3],"tags":[],"class_list":["post-37594","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-launches","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/37594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=37594"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/37594\/revisions"}],"predecessor-version":[{"id":37600,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/37594\/revisions\/37600"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=37594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=37594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=37594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}