MutualFundWire.com: A 21-Fund Firm Expands a $2.9B-AUM Relationship

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Friday, June 4, 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.

Printed from: MFWire.com/story.asp?s=62969

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