FYI: As an indication of the fierce competition within the multi-alternative fund category, Morgan Stanley’s first alternative mutual fund, the AIP Dynamic Alternative Strategies Fund (DASAX), has attracted just $24 million in assets under management since its launch on April 30, 2013. As a point of comparison, Goldman Sachs launched its Goldman Sachs Multi-Manager Alternatives Fund (GMAMX) on the same day and has gathered more than $750 million since inception. So does performance matter? It likely does as the Goldman Sachs fund has outperformed Morgan Stanley’s fund 7.2% to -0.1% since inception through the end of last week, as shown in the chart below:
Regards,
Ted
http://dailyalts.com/morgan-stanley-aip-takes-another-crack-liquid-alts-market/
