Absolute Investment Advisers, LLC

Absolute Investment Advisers, LLC primarily serves pooled investment vehicles and institutional investors, acting as investment adviser to several registered funds — including the Absolute Convertible Arbitrage Fund, Absolute Flexible Fund, Absolute Capital Opportunities Fund, Absolute CEF Opportunities Fund and the Absolute Select Value ETF — while also managing the private pooled vehicle Absolute Finn Investment Partners, L.P. and discretionary separately managed accounts, together overseeing roughly $2.23 billion in assets. The firm provides continuous, discretionary portfolio management across these products and works with SMA clients to establish investment guidelines and portfolio parameters.

Absolute’s investment approach emphasizes relative-value and event-driven strategies with a particular focus on closed-end funds and convertible-arbitrage techniques, and its ETF follows a bottom-up, value-oriented, absolute-return process targeting a concentrated portfolio. The firm routinely uses long/short positions, hedging, derivatives and other trading instruments in pursuit of its objectives, and its disclosures note that client accounts, including SMAs, may incur borrowings, margin or other borrowing-related charges when leverage or shorting is used.

Noteworthy aspects of the firm relative to peers include its role as adviser and portfolio manager for multiple registered investment companies and an ETF while simultaneously operating a private pooled fund and SMAs — a combination that is less common among investment-manager firms. The firm also publishes performance and investor materials in fund prospectuses, SAIs and monthly reports for private fund investors, maintains multiple offices (six), and documents strategies that involve futures, derivatives and shorting across funds and account types.