Redwood Asset Management, a Toronto-based investment fund manager, has announced the launch of the Redwood Global Macro Class.
Global Macro, as a strategy, is a unique diversifier compared to other alternative and traditional asset classes since correlations decline during recessionary periods. The correlation of most other asset classes actually increase during recessionary times, reducing your downside protection when you need it most. The fund will seek to generate superior risk-adjusted returns with lower volatility and low correlation to any other asset class.
AIP Asset Management Inc. ("AIP") has been selected to manage the Redwood Global Macro Class and continues its relationship which started with the Redwood Pension Class. AIP is a Toronto-based alternative investment firm which was recently nominated for the Ernst and Young Entrepreneur of the Year Award.
Jay Bala, CFA, President and Portfolio Manager at AIP, previously helped to manage a $50 Million Global Macro Fund which has won the Global Award for Excellence Investing in Special Situations and has been named Best Emerging Market Focused Private Investment Firm, North America at the Alternative Investment Awards. AIP’s team previously worked for a fund manager which was named "Best Credit Fund Manager" by Hedgeweek.
To the extent possible under NI 81-102, the fund will use a number of strategies not traditionally seen in Global Balanced mutual funds, including the use of alternative strategies such as shorting, derivatives for hedging and non-hedging purposes and also investing in special situations, private credit, structured financial transactions, bank loans and hybrid fixed income securities.
"AIP is proud to partner with Redwood. Redwood’s ability to bring unique investment strategies with proven track records’ has allowed domestic investors to diversify their portfolio and increase their risk-adjusted returns," Jay Bala, CFA President and Portfolio Manager at AIP Asset Management.
"AIP’s team has delivered strong risk-adjusted returns and brings an ideal complement to our existing fund line-up. For our investors who are seeking enhanced income but have a lower tolerance for market volatility and risk, we now offer a unique solution," said Peter Shippen Redwood’s President.