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Sterling Capital Funds has launched the Sterling Capital Long/Short Equity Fund, adding to its line-up of 21 mutual funds.
The fund focuses on long-term capital appreciation by allocating capital to external long/short equity managers.
The fund is managed by L Joshua Wein and James C Willis and will offer Class A, C and Institutional shares.
"We believe there are a variety of advantages offered to clients with this fund," says Wein, co-portfolio manager based in Raleigh, North Carolina. "The liquid exposure to long/short equity, a multi-manager approach and the ability of Sterling Capital Management, as investment adviser, to monitor underlying portfolio exposures are among the advantages offered."
The fund will target four investment management firms that will each sub-advise an allocated percentage of the fund with all assets custodied centrally. The fund's structure allows capital to be allocated/re-allocated and rebalanced as needed.
While the fund focuses primarily on sector-specific managers, the team will also selectively allocate to managers with multi-sector approaches.
"This multi-manager approach draws upon the resources and manager search-and-selection expertise of Sterling Capital's Advisory Solutions team," says Willis, co-manager of the fund with Wein. "Through an extensive investment and operational due diligence process, we are seeking skilled managers with clearly differentiated approaches to equity research, risk management and portfolio construction."
The initial sub-advisors selected for the fund are Cummings Bay Capital Management based in Dallas; Gator Capital Management in Tampa, Florida; Lucas Capital Management in Red Bank, New Jersey; and Sanborn Kilcollin Partners in Chicago.
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