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Macquarie develops capital-protected fund

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Investment bank Macquarie is developing a new fund similar to the Winton Global Alpha Fund, but with a capital protection component.

The Winton fund is part of Macquarie's stable of managers in its professional series. The open-ended fund invests in managed futures and adopts an active long-short style of investing.

Macquarie is looking at developing a similar fund, but it will include capital protection and will be a closed-end fund.

"We have been talking with a number of dealer groups who liked the fund but wanted a capital protection component built in," Macquarie Professional Series head Megan Aubrey said.

The fund was currently in the development phase, Aubrey said.

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The Winton Global Alpha Fund has $169 million in funds under management.