SSgA expands alternative strategies capabilities

State Street Global Advisors (SSgA) has unveiled a major expansion of its alternative strategies capabilities through several new initiatives, including the broadening of its absolute return strategies, new hires and entering into a licence for dynamic allocation software.

SSgA has managed absolute return strategies since the early 1990s. The strategies, totalling around $4 billion in assets as of March 31, 2006, include currency, long/short, market neutral, fixed-income arbitrage and equity hedge/directional strategies.

With the latest initiatives, the firm will bring “greater focus to the management of its alternative strategies", the firm said in a statement.

Its pool of investment professionals, led by Chris Woods, was recently expanded to include several new hires. These include Jonathan Chanis, Henri Fouda and Todor Georgiev, who were formerly from Caxton Associates, Mellon Capital Management and KBC Alternative Asset Management respectively.

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