Dexion to change Equity Alternative but Winterthur analyst warns it is too little too late.
Dexion Equity Alternative has become the latest fund of hedge fund investment trust to overhaul its investment process in a bid to avoid closure. In recent weeks the closed-ended hedge fund sector has seen a number of trusts, including Cazenove Absolute Equity, trigger continuation votes due to sharply widening discounts. Investors have pulled money out following lacklustre performance in the sector. Dexion has moved to rein in its discount and rejuvenate appetite for the trust by changing the investment focus. Formerly a global fund of hedge funds, the portfolio is now a US equity...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
