MFS Investment Management, a US-based investment manager, has unveiled a new global long/short equity fund that targets total returns with less volatility than the broad global equity market.
The new MFS Meridian Funds – Managed Wealth fund comprises three parts, including strategic global equity allocation, flexible market exposure and systematic hedges to manage tail risk dislocations.
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It makes use of a tactical asset allocation overlay, which leverages derivative instruments to reduce the volatility of the fund’s returns. This is done by limiting its exposure to equity or currency markets related to its portfolio investments.
The fund may also use a tail risk hedging strategy to protect against market dislocations.
MFS chief investment strategist James Swanson will be the fund’s lead manager, while portfolio manager Jonathan Sage will be tasked with stock selection in the portfolio.
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