Phoenix offers ordinary investors hedge-fund exposure.Phoenix Offers Ordinary Investors Hedge-Fund Exposure: Phoenix investment Partners, the asset-management unit of Phoenix Cos. Inc., has launched two mutual funds, the Select Wealth Builder and Wealth Guardian guardian In law, one who has, or is legally appointed to, the care and management of another, usually a minor. A natural guardian is a guardian by natural relationship (usually the father or mother). , that will allocate To reserve a resource such as memory or disk. See memory allocation. about 5% of their assets to hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" . Most hedge funds require a minimum investment of $1 million, but the new Phoenix funds require $500. |
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