Performance Trust Asset Management has launched a new hedged fixed-income product, called PTAM Dynamic Fixed Income Fund.
The PTAM Dynamic Fixed Income Fund will be "much more of a relative-value or hedge fund-type of mandate" than the firm’s existing hedge funds, a source with knowledge of the fund told FINalternatives.
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The new fund, which will remove the unwanted exposures across fixed-income and credit, will be a relative-value or hedge fund-type of mandate than the firm’s existing hedge funds, reported FINalternatives.
The new fund will take on long exposure in addition to short agency securities to hedge interest rate risk.
In addition to hedging long municipal bonds, the fund will also hedge inherent credit and interest rate risks by shorting corporates.
The fund will be managed by the firm’s investment team which includes the new CIO, Citadel vet Ethan Youderian and CFO David Pritsker.
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By GlobalDataPTAM, which was founded in 2008, employs a staff of 25 and runs hedge funds, municipal bond mandates and two mutual funds.
