Key Takeaways
- • Bridgeway Capital Management launched the Bridgeway Global Opportunities Fund (BRGOX), a systematic global absolute-return strategy using a long/short approach with low net exposure to countries, sectors and certain other undesirable exposures.
- • The fund is offered as a traditional mutual fund with a $150 million asset cap, after which new investors would be served only through a hedge fund ("long-short") vehicle or similar structure at a higher fee.
- • BRGOX is available to trade on the Schwab and Fidelity platforms as of the launch date, with the firm managing approximately $4.3 billion across six mutual funds, two ETFs, and separately managed and sub-advised accounts.
- • The strategy is grounded in three peer-reviewed articles on Intangible Capital Intensity and aims to deliver returns regardless of stock market direction.
- • The fund is new with no operating history, and the prospectus discloses risks including derivatives, leverage, short-sale exposure, and foreign securities risk.
Summary
Bridgeway Capital Management, the Houston-based investment firm founded in July 1993, has launched the Bridgeway Global Opportunities Fund (BRGOX), according to a Business Wire announcement dated October 22, 2024. The fund is available to trade today on the Schwab and Fidelity platforms and is positioned as an absolute-return strategy designed to deliver consistent returns regardless of stock market direction.
The fund is a systematic global absolute-return strategy that employs a long/short approach and maintains low net exposure to countries, sectors and certain other undesirable exposures. Bridgeway states the strategy is based on its research, including three peer-reviewed articles on Intangible Capital Intensity. The firm points investors to its Measuring Intangible Capital Intensity: A Global Analysis for a full overview of the approach.
BRGOX is being offered as a traditional mutual fund with an asset cap of $150 million, the level at which the fund is expected to close to new investors. Once that threshold is reached, the adviser intends to offer the strategy to new investors only through a hedge fund ("long-short") investment vehicle or similar structure, at a higher fee. The announcement describes the fund as built for institutions and now open to retail investors.
John Montgomery, Founder and CEO of Bridgeway Capital Management, said the fund would be a valuable addition for risk-aware investors seeking resilient, diversified portfolios with reduced exposure to systematic risks. He cited the firm's three decades of experience managing capacity-constrained funds and its nimbleness relative to much larger competitors. Jacob Pozharny, Co-CIO and Portfolio Manager for the Fund, said that high-net-worth and institutional investors have traditionally had exclusive access to hedge-fund-like strategies, and that the fund is designed to address increasing correlation across global markets through diversification and reduced volatility.
Bridgeway manages approximately $4.3 billion across six mutual funds, two ETFs, and separately managed and sub-advised accounts. The fund is new and has no operating history. The disclosures warn that principal loss is possible, that derivatives, swaps and leverage can magnify losses, that short-sale positions can in theory expose shareholders to unlimited loss, and that foreign investments carry greater volatility and political, economic and currency risks. The fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Bridgeway.
The fund is a systematic global absolute-return strategy that employs a long/short approach and maintains low net exposure to countries, sectors and certain other undesirable exposures. Bridgeway states the strategy is based on its research, including three peer-reviewed articles on Intangible Capital Intensity. The firm points investors to its Measuring Intangible Capital Intensity: A Global Analysis for a full overview of the approach.
BRGOX is being offered as a traditional mutual fund with an asset cap of $150 million, the level at which the fund is expected to close to new investors. Once that threshold is reached, the adviser intends to offer the strategy to new investors only through a hedge fund ("long-short") investment vehicle or similar structure, at a higher fee. The announcement describes the fund as built for institutions and now open to retail investors.
John Montgomery, Founder and CEO of Bridgeway Capital Management, said the fund would be a valuable addition for risk-aware investors seeking resilient, diversified portfolios with reduced exposure to systematic risks. He cited the firm's three decades of experience managing capacity-constrained funds and its nimbleness relative to much larger competitors. Jacob Pozharny, Co-CIO and Portfolio Manager for the Fund, said that high-net-worth and institutional investors have traditionally had exclusive access to hedge-fund-like strategies, and that the fund is designed to address increasing correlation across global markets through diversification and reduced volatility.
Bridgeway manages approximately $4.3 billion across six mutual funds, two ETFs, and separately managed and sub-advised accounts. The fund is new and has no operating history. The disclosures warn that principal loss is possible, that derivatives, swaps and leverage can magnify losses, that short-sale positions can in theory expose shareholders to unlimited loss, and that foreign investments carry greater volatility and political, economic and currency risks. The fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Bridgeway.
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