Legg Mason Launches Fixed Income Fund of Hedge Funds

Legg Mason Launches Fixed Income Fund of Hedge Funds
News from Sacramento Bee:

/PRNewswire/ — Legg Mason Global Asset Management has launched Permal Hedge Strategies Fund (‘the Fund’), a fixed income focused multi-manager, multi strategy fund of hedge funds, on February 1, 2012. 

The Fund invests in a broad range of fixed income strategies, employing flexible asset allocation and moving capital between credit and non credit strategies. Investments include developed as well as emerging market fixed income and long/short fixed income.  There are also smaller allocations to event-driven strategies, such as risk arbitrage, distressed debt, special situations and activists, as well as global macro strategies, including both systematic and discretionary managers, which are intended to mitigate market volatility.[1] 

“Given market volatility and investor demand for lower risk products, we have seen more desire for lower correlated, alternative investment strategies.  We worked collaboratively to bring to market a product that would not only fit investors needs and  would bring Permal’s expertise as one of the oldest fund of hedge funds to the retail market,” stated Matt Schiffman, Head of Global Marketing for Legg Mason.  He continued, “The fund is designed to take Permal’s existing product range and add increased liquidity and transparency through a publicly traded…………… continues on Sacramento Bee

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