FrontPoint Partners will launch a portable alpha strategy in the fourth quarter. The complete alpha transport strategy will use a combination of the hedge fund manager's alpha strategies as the underlying investment and an internally managed beta overlay. The beta overlay will use derivatives to "port" returns back to one of the following benchmarks: the S&P 500, Russell 2000, MSCI EAFE, inflation-indexed bonds or U.S., Canadian or Japanese bonds. FrontPoint will not charge an additional management fee for the beta overlay. FrontPoint Partners manages a total of $5.5 billion in assets, all for institutional investors.