Registered as a Ucits sub-fund under the asset manager’s Irish operation Eaton Vance International, the investment adviser is majority owned subsidiary Parametric Portfolio Associates.
The portfolio managers are CIO Jack Hansen, alongside Thomas Lee and Alex Zweber.
The strategy aims to absolute and risk-adjusted returns relative to the MSCI All Country World Total Return Net USD Index. It is designed to produce the strongest relative performance when the index is experiencing negative returns.
“Given ongoing uncertainty in the global markets, we are pleased to offer clients a strategy that follows a disciplined and systematic process which is structured to deliver results in down and sideways markets,” Hansen said.
“We believe this may help clients reduce the magnitude of drawdowns and recover faster from stress events.”
Parametric, which has offices in Seattle, Minneapolis Connecticut, utilises rules-based alpha-seeking equity, alternative and options strategies, as well as portfolio implementation and overlay services.
The new fund will aim to achieve diversification by capitalising on the tendency of implied volatility to exceed subsequent realised volatility.
The AMC for the fund is 45bps and the TER is capped at 60bps.
