New York Life Investment Management LLC said its equity investors group has launched an absolute return strategy for institutional clients.
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Since January the New York group has launched four market neutral strategies, and it plans to introduce a 130/30 strategy this year, the New York Life Insurance Co. unit said Monday.
The group has increased its assets under management 88.5% in the past two years, to $14.7 billion.
New York Life Investment Management had $228 billion of assets under management on Sept. 30.
