IM Global Partner hired Dynamic Beta Investments as the sole subadviser on its OYSTER Stable Return SICAV fund.
The UCITS-compliant liquid alternative fund aims to deliver hedge fund-like returns to institutional and other clients, a news release by iM Global Partner said. The fund had $32 million in assets as of Nov. 30, a spokesman for iM Global Partner said.
The strategy was previously managed by SYZ Asset Management. In February, iM Global Partner took over management of the full OYSTER series of funds from SYZ, including this strategy, the spokesman said.
New York-based DBi has been an affiliate of iM Global Partner since 2018. It specializes in hedge fund replication and runs more than $427 million in strategies across equity long/short, multistrategy and managed futures. IM Global Partner has about $19 billion of assets under management.
"This strategy attests to our ability to deliver innovative strategies and outstanding managers with proven track records," Philippe Uzan, deputy CEO and CIO asset management at iM Global Partner, said in the release. "In this case, DBi is perhaps the only liquid alternative firm to have consistently outperformed hedge funds over time by pioneering the concept of fee disintermediation and alpha generation."