Private Advisors Alternative Strategies Master Fund registers shares

By Toni Weeks

San Diego, Dec. 19 - Private Advisors Alternative Strategies Master Fund has completed its initial registration of shares, according to an N-2 filing with the Securities and Exchange Commission.

The fund will seek long-term capital appreciation above equity returns over a full market cycle with lower volatility than that of the equity market and returns that demonstrate a low correlation to both traditional equity and fixed-income markets. It plans to reach its investment objective by placing its capital with a variety of portfolio managers who operate mainly as hedge funds, employing different styles and strategies.

The fund will choose portfolio managers who invest along with their clients and who may use credit, event-driven, distressed, global macro income, long/short equity and relative value/arbitrage strategies.

The portfolio management team members are Louis W. Moelchert Jr., Charles M. Johnson III, Louis W. Moelchert III, Tim Berry, Charles Honey, Michael Fuller, Laura Baird, Macon Clarkson and Bryan F. Durand.

The initial registration was for a token 1,000 shares at $20.00 per share for an offering of $20,000. Shares will be continuously offered on a monthly basis.

Shares will not incur a sales charge imposed on purchases.

No other information on fees was available in the filing.

New York Life Investment LLC will service as the fund's investment manager and is located in New York. Private Advisors LLC will serve as the subadviser.

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