A 21-Fund Firm Expands a $2.9B-AUM Relationship
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Friday, June 04, 2021

A 21-Fund Firm Expands a $2.9B-AUM Relationship

The folks at a 15-year-old mutual fund firm are deepening a $2.9-billion-AUM relationship.

Jerry Szilagyi
Catalyst Capital Advisors LLC
President, CEO, Co-Founder
On Tuesday, David Miller, chief investment officer of Huntington, New York-based Catalyst Capital Advisors' [profile] Catalyst Funds, confirmed that New York City-based Millburn Ridgefield Corporation has become the subadvisor on the Catalyst Hedged Commodity Strategy Fund. The $13.3-million-AUM mutual fund, which will reach its six-year anniversary on September 30, has been rebranded as the Catalyst/Millburn Dynamic Commodity Strategy Fund.

The rebranded fund is now PMed by a trio of Millburn executives: Harvey Beker, chairman; Barry Goodman, co-CEO and executive director of trading; and Grant Smith, co-CEO and CIO. The fund was previously PMed by Catalyst's own Kimberly Rios and Miller.

The Catalyst and Millburn folks have already worked together for more than four years: Millburn has been subadvising the Catalyst/Millburn Hedged Strategy Fund (also with Smith, Goodman, and Beker PMing) since it launched in December 2015. That fund now has $2.9 billion in AUM.

"This is an opportune time for us to offer investors a distinct commodity strategy from a manager that has a deep understanding of the asset class and systematic investment strategies," Miller states.

Goodman puts Millburn's taking over of the commodity strategy fund in the context a "recent confluence of factors, including the injection of liquidity by central banks and governments, ramp-ups in infrastructure spending, and the increasing adoption of ESG policies."

Editor's Note: A prior version of this story gave the wrong age for the fund formerly known as the Catalyst Hedged Commodity Strategy Fund. The fund's sixth anniversary is coming up in September.

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