The latest in funds and investment news from across North America.

Knights of Columbus
Knights of Columbus Asset Advisors has launched a long/short equity hedge fund designed to reflect values of the Catholic faith. The investment house is a subsidiary of Knights of Columbus, a US-based fraternal services organization representing several million members.

The investment house has rolled out the Catholic Investor Long/Short Equity Fund as part of a suite of eight fixed income and equity strategies.

The fund is, the organization said, the “only Catholic long/short mutual fund in the world, aimed at satisfying the needs of investors who appreciate ethical values-based investing”. The fund adheres to the investing principles outlined by the United States Conference of Catholic Bishops.

To some extent the fund reflects a trend of investments designed to fit with ethical ideas, as seen also in areas such as Shariah finance (which typically bans areas where interest is charged on loans, gambling and alcohol), or ESG investing (heeding concerns about global warming or use of child labor, for example). 

The fund is based on an investment strategy that was launched in 2014. L2 Asset Management will serve as the sub-advisor on the fund.

KoCAA is a New Haven-based asset management and investment firm, with more than $25 billion under management.