American Century launches L/S fund
American Century has announced the launch of a new long / short fund, which follows a multi-manager strategy using an open architecture subadvisor approach.
“We believe long/short strategies can play an important role in a diversified portfolio by providing the potential for more consistent returns over a full market cycle, while striving to reduce volatility” said Cleo Chang, senior vice president and head of alternative investments for American Century.
Institutional asset manager Perella Weinberg Partners Capital Management LP (Perella Weinberg) has been appointed to provide investment management advisory services and to identify and recommend other underlying subadvisors with expertise in specific strategies.
The subadvisors include Passport Capital, Sirios Capital Management, Three Bridges Capital and CMIA Seligman.
The Long / Short fund is American Century’s second alternatives fund, following the launch of AC Alternatives Income, which launched in July last year.