Oklahoma Hedge Fund Changes Name to Covenant Global Investors, AUM Grows to $320 Million
Thursday, January 26, 2012 : Permalink
New York (HedgeCo.net) – Covenant Financial Services, LLC., the management company for the Covenant family of target-return, global macro hedge funds and separately managed accounts, has changed its trade name to “Covenant Global Investors.”
The change was made to better reflect the firm’s current position in the market and the completion of its evolution from a boutique advisory firm started in 1984 to the $320 million AUM global macro investment manager that it is today.
Over the past year, as Covenant Global Investors has expanded its focus from high net worth investors to include institutions and as its assets have grown to approximately $320 million, it wanted to emphasize the firm’s global macro, target-return strategy where investors risk preferences are matched with funds and separate accounts that strive to deliver returns within a targeted range, regardless of market conditions. The term “global” is also deliberate, as Covenant Global Investors explores investment opportunities anywhere in the universe of assets in its quest to deliver alpha. The one word that the firm never considered changing was the first and most defining in their brand, “Covenant.”
“We’re wired differently at Covenant,” said Steve Shafer, CIO and Portfolio Manager of Covenant Global Investors. “Because of the firm’s history as a private wealth manager and our fiduciary responsibility to our clients, we have an uncommonly strong relationship with our investors – whom we call ‘partners’. This covenant with our investors is the defining feature of our corporate DNA and the reason that we continue to keep that word front and center in our branding.”
The name change took effect on January 1st, 2012. The firm’s website, www.CovenantInvestors.com will remain the same.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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