Liquid Alts.

Fund of hedge funds manager PAAMCO has agreed to merge with KKR’s Prisma hedge fund allocation unit in a strategic transaction that creates a $34 billion firm with significant presence in the fund-of-funds and liquid alternative sectors. 

Old Mutual Global Investors (OMGI) has launched a new long/short managed futures strategy aimed at expanding its existing liquid alternative product family with a higher volatility absolute return product.

Canadian asset management firm AGF Investments has launched a new series of liquid alternative ETFs under the AGFiQ Asset Management banner and listed them on the Toronto Stock Exchange.

Liquid alternatives provider Context Asset Management has debuted a second alternative mutual fund on its platform that will primarily trade in developed-market equity index futures with a risk mitigation overlay.

Lazard Asset Management has debuted a new liquid alternative fund based on the company’s existing real assets strategy. 

London-based Belgrave Capital Management, a unit of Swiss financial services company Banca del Ceresio, has launched a new UCITS-compliant fund of funds strategy aimed at providing exposure to a number of leading equity managers.

Five of IndexIQ’s six hedge fund replication strategies were up strongly in December, riding the year-end moves in financial markets. For the year, all six were in the green.

Swiss alternative asset manager RAM Active Investments has debuted a new beta-neutral, UCITS-compliant long/short equity fund that will cover the entire developed-market investable universe. 

AXA Investment Managers has debuted a new UCITS-compliant equity fund focused on companies across multiple industries and market capitalizations that are engaged in robotics. 

Liquid alternatives rose in December but still broadly underperformed their hedge fund brethren, according to new data from Wilshire Associates.