Ramius has filed a proxy statement with the US Securities and Exchange Commission seeking shareholder approval to hire State Street Global Advisors to serve as sub-advisor to the Ramius Trading Strategies Managed Futures Fund.
The Fund is an open-end mutual fund that gives investors exposure to a high-conviction portfolio of managed futures managers on the Ramius managed account platform. The Fund’s board has approved the appointment of State Street as sub-advisor, subject to approval of the Fund’s shareholders.
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As part of the proposed sub-advisory relationship, State Street will hire the Fund’s existing portfolio management team, which will preserve the continuity of the management team from the Fund’s inception. As the primary advisor to the Fund, Ramius will continue to provide the Fund’s back-office platform, operational due diligence and marketing support.
"We are excited to collaborate with State Street," said Michael Singer, chief executive officer of Ramius. "The proposed sub-advisory agreement will keep in place the Fund’s portfolio management team while also providing additional resources to expand its signature investment capabilities. We look forward to working with State Street to further our efforts in delivering high-quality liquid alternatives to under-served mass affluent investors."
Ramius anticipates that the shareholder vote will take place in September 2014 and, if accepted, will become effective around mid-September 2014. After shareholder approval, the Fund is expected to be renamed the State Street/Ramius Managed Futures Strategy Fund.
"We are constantly looking for ways to bring high-quality, alternative-oriented products to investors, and we look forward to working together with Ramius to help ensure that the Fund’s success continues," said Scott Powers, president and chief executive officer of State Street Global Advisors.
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By GlobalDataTo bring its institutional managed futures strategies to the investing public, Ramius launched the Fund on September 13, 2011, and serves as its advisor. The Fund’s performance over the last 12 months through July 25, 2014, places it in the top quartile of Morningstar’s managed futures category.
