Pyramis large-cap core 130/30 open to institutions

Pyramis Global Advisors has begun offering its large-cap core 130/30 strategy to institutional clients, said spokesman Alexi Maravel. The strategy, which the firm seeded more than a year ago, delivered a 33.6% return for the year through June 30, besting the S&P 500’s 20.6% gain for the same period, and leaving it at the top of the 130/30 universe covered by eVestment Alliance for the trailing one-year period, Mr. Maravel said. The strategy will seek to outperform the benchmark by an annualized 4% over a market cycle. John Power, senior vice president of domestic equities, is team leader for the strategy, overseeing seven sector portfolio managers running concentrated long/short sector portfolios, supported by 20 global fundamental research analysts within Pyramis and parent company Fidelity’s broader research organization.