Harvest Capital Strategies, the asset management subsidiary of JMP Group, has made a minority investment in Astor Investment Management, a Chicago-based registered investment advisor with $1.9bn of assets under management.
Astor offers its products through a wide range of channels, including mutual funds, separately managed accounts and universal managed accounts. It approach to asset allocation is driven by macroeconomic theory, utilising a broad range of asset classes with low correlation to the broader market.
Commenting on the deal, Harvest Capital Strategies president KC Lynch said: “We are very optimistic about our long-term partnership with the team at Astor. By combining economic analysis and dynamic ETF portfolio construction, Astor has helped its clients manage risk in various market environments for over a decade.
‘This investment broadens our asset management platform and extends both firms’ product offerings and distribution capabilities,” Lynch added.
Astor CEO Robert Stein commented: “We are proud to be partnering with Harvest Capital Strategies and JMP Group. Our agreement gives Astor the latitude to develop new investment strategies and applications while also introducing our existing investment solutions to a much wider client base.”