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DAILYALTS: Fidelity Delivers One-Two Punch To Blackstone And Arden
The mutual fund giant Fidelity Investments has reversed course on its strategic allocation to two custom alternative mutual funds, one created by Blackstone and the other by Arden Asset Management (now part of Aberdeen Asset Management). Both Blackstone and Arden are well respected alternative asset managers, and both manage large, diversified pools of hedge funds and hedge fund strategies for institutional investors, among others. But that wasn’t enough to alter Fidelity’s course of action that is resulting in more than $2 billion of assets being ripped out of the two funds and re-allocated to other investments Regards, Ted http://dailyalts.com/fidelity-delivers-one-two-punch-to-blackstone-and-arden/
