Calamos Investments and Aksia, an alternative investments and portfolio advisory firm, have launched its third fund, named the Calamos Aksia Hedged Strategies Fund.  

The Calamos Aksia Hedged Strategies Fund is an interval fund that provides investors access to a “diversified” selection of hedge fund managers in an actively managed vehicle. 

The fund, HEDGX, is the third interval fund under the AC Private Markets brand and focuses on low equity beta exposures across strategies, including relative value, multi-strategy, tactical trading, event-driven, and long and short equity, Calamos said. 

“The launch of HEDGX reflects our continued commitment to democratizing access to institutional-quality alternatives,” John Koudounis, CEO and president of Calamos, said. “Together with Aksia, we’ve designed a hedge fund solution to meet the evolving needs of investors and target the alpha that these strategies can provide.” 

Since the fund’s inception last June, HEDGX has delivered a net return of 9.21% through August surpassing the HFRI FoF Conservative Index by 6.03% and Bloomberg’s U.S. Aggregate Bond Index by 6.43%. 

Since the fund’s launch, its structures as a 40 Act interval fund, making it “accessible to both accredited and non-accredited investors,” and offers up to 5% in quarterly liquidity and carriesno incentive fees, Calamos said. 

The launch follows the success of their previous collaboration, Calamos Aksia Private Equity & Alternatives Fund, which launched in July and Calamos Aksia Alternative Credit and Income Fund, which debuted in 2023. 

Naperville, IL-based Calamos manages about $40 billion in total assets, including $18 billion across a range of liquid alternative strategies. New York-based Aksia, oversees more than $377 billion in assets under supervision.