The First Trust Hedged Strategies Fund is a closed-end interval fund focused on achieving long-term capital appreciation through diversified allocations to a select group of hedge funds. The fund strategically invests in multiple alternative investment strategies, including multi-strategy, long/short equity, credit, arbitrage/relative value, and event-driven mandates. By maintaining a concentrated portfolio of approximately 12-15 high-conviction hedge fund managers, the fund aims to offer a unique blend of institutional hedge fund exposure with lower volatility and lower beta compared to traditional stocks and bonds. This structure is intended to outperform the HFRX Global Hedge Fund Index while providing investors with a differentiated vehicle for alternative asset allocation. The fund is designed for accredited investors seeking access to sophisticated hedge fund strategies through a single investment, offering features such as consolidated tax reporting and quarterly liquidity provisions. Established in 2023 and registered under the Investment Company Act of 1940, the fund operates with a minimum investment threshold and selective redemption windows, positioning it as a distinctive option in the evolving landscape of alternative, multi-manager investment vehicles.
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