The Evanston Multi-Alpha Fund (the “Fund”) is a “fund of private funds” and emphasizes efficient allocation of investor capital, selecting investment vehicles (collectively, the “Portfolio Funds”) managed by independent investment managers.
For more detailed Fund information, including performance, fact sheet, shareholder letters, and prospectus please click here.
Investment Strategy
Portfolio Funds invested in by the Fund are managed primarily within the following strategies:
- Long/Short Equity: Seek to profit by taking positions in equities and generally involve fundamental analysis in the investment decision process. Long/short equity strategies may aim to have a net long directional bias, a net short directional bias, or be neutral to general movements in the stock market. Long/short equity Portfolio Managers tend to be “stock pickers” and typically shift allocations between long and short investments based on market conditions and outlook.
- Event Driven: Seek to invest in opportunities that are created by significant transaction events, such as spin-offs, mergers and acquisitions, and reorganizations.
- Relative Value: Seek to profit by exploiting pricing inefficiencies between related instruments, while remaining long-term neutral to directional price movements in any one market. Short selling is an integral part of this strategy.
- Global Asset Allocation/Macro: Seek to exploit opportunities in various global markets. Underlying funds employing these strategies have a broad mandate to invest in markets and instruments they believe provide the best opportunity.
Evanston Capital Management, LLC serves as investment sub-adviser to the Evanston Multi-Alpha Fund, a closed-end fund advised by XA Investments.
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