John Koudounis, President and CEO of Calamos, has announced the launch of the Calamos Aksia Hedged Strategies Fund (Ticker: HEDGX), an interval fund that delivers access to a diversified selection of hedge fund managers in a single actively managed portfolio.
The firm writes that HEDGX is the third interval fund launched under the AC Private Markets banner, combining the strengths of Calamos, a pioneer in liquid alternatives, and Aksia, a global leader in alternatives and private markets.
“HEDGX furthers the depth and breadth of AC Private Markets, the Aksia/Calamos partnership, following the successful launches of Calamos Aksia Alternative Credit & Income Fund (CAPIX), and Calamos Aksia Private Equity & Alternatives Fund (CAPVX).
“HEDGX is a curated hedge fund solution focused specifically on low equity beta exposures across relative value, multi-strategy, tactical trading, event driven and long/short equity.”
Aksia’s latest research, Hedge Funds Quietly Performing, highlights how the hedge funds that institutions own have shifted from mirroring the broader hedge fund industry to focusing instead on funds with stronger diversification characteristics, which may enhance an investor’s overall portfolio resilience.
“The launch of HEDGX reflects our continued commitment to democratizing access to institutional-quality alternatives,” says Koudounis. “Together with Aksia, we’ve designed a hedge fund solution to meet the evolving needs of investors and target the alpha that these strategies can provide.”
Formerly a private fund, HEDGX has delivered a net return of 9.21 per cent through 8/31/25 since its inception on 6/03/24, outperforming both the HFRI FoF Conservative Index (6.03 per cent) and Bloomberg US Aggregate Bond Index (6.43 per cent).
Beginning today, 10/1/2025, the fund will operate as a ’40 Act interval fund, accessible to both accredited and non-accredited investors, offering quarterly liquidity of up to 5 per cent, and carrying no incentive fees.
“HEDGX delivers our nearly two decades of hedge fund strategy research and skeptical manager selection processes in a single, accessible investment solution,” says Jim Vos, CEO of Aksia. “We’re proud to further partner with Calamos and extend AC Private Markets’ mission to bring institutional caliber solutions to a broader investor base through funds that emphasize transparency, liquidity and investor alignment.”
