Liberty Street Advisors, an SEC registered investment advisor, has launched the Robinson Tax Advantaged Income Fund, the fourth in its series of funds focused on income production and inflation protection.
The Liberty Street family of funds, which now has over $3.3 Billion in assets as of September 30th, 2014 also includes the Center Coast MLP Focus Fund (CCCAX, CCCCX, CCCNX), the Capital Innovations Global Agri, Timber, Infrastructure Fund (INNAX, INNCX, INNNX), the Horizon Spin-Off and Corporate Restructuring Fund (LSHAX, LSHCX, LSHUX), the West Loop Realty Fund (REIAX, REICX, REIIX) and the Toroso Newfound Tactical Allocation Fund (TNTAX, TNTCX, TNTNX).
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The Robinson Tax Advantaged Income Fund is led by veteran Fixed Income manager, James Robinson. Mr. Robinson is an investment manager and bond trader with more than three decades of experience.
Mr. Robinson served for five years as the Chairman and CEO of Birmingham-based Munder Capital Management and President of the Munder Funds, where he was responsible for an investment complex with approximately $38 billion in assets under management.
From 1987 to 1999, Mr. Robinson served as Executive Vice President and Chief Investment Officer-Fixed Income with Munder Capital Management, when income assets under management grew to more than $20 billion. Mr. Robinson was the sole architect of the firm’s dynamic targeted duration fixed income investment process.
"Jim brings with him an investment style that is driven by proprietary financial models backed by years of experience analyzing not only the underlying municipal credits but also the historical dislocations and trading behavior of Closed End Funds," said Tim Reick, CEO of Liberty Street Advisors.
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By GlobalData"Since its founding in December 2012, Robinson Capital has specialized in developing alternative value investing strategies, particularly through closed-end funds, that pursue the generation of higher cash flows than, and have lower correlations with stock and bond markets," said Jim Robinson, "We typically assemble portfolios of 30-40 closed-end Municipal Bond Funds that are diversified by underlying credits, investment manager, and trade at what we believe to be irrational discounts to their net asset value."
"A mutual fund consisting of closed-end Municipal Bond Funds is a natural fit for the Liberty Street fund family, the tax advantaged income stream that the Fund seeks to provide is consistent with our product offering," said Reick.
"While closed-end Municipal Bond Funds have certainly been an option for investors historically, we believe that the exposure of a diversified portfolio of these funds along with the potential to hedge duration risk, is something that has not been previously made available to the retail investor. The Robinson Tax Advantaged Income Fund provides investors’ access to a manager with extensive knowledge who has been investing in these markets for over 30 years."
The Fund provides daily liquidity and is available in A, C, and Institutional share classes. The Robinson Tax Advantaged Income Fund intends to invest in a focused portfolio of approximately 30-40 closed-end funds, which invest primarily in Municipal Bond Funds. The Fund is currently available at TD Ameritrade and Pershing.
