As of 8 November 2012, Dexion Equity Alternative Limited has gone out of business. Dexion Equity Alternative Limited is a close ended mutual fund of hedge funds launched by Dexion Capital (Guernsey) Limited. It is managed by K2 Advisors L.L.C. and Dexion Capital plc, Asset Management Arm. The fund primarily invests in hedge funds. It invests 60 percent to 70 percent of the fund’s assets in equity long/short strategies and 30 percent to 40 percent invested in low volatility strategies such as relative value arbitrage, distressed securities and merger arbitrage. The fund employs fundamental, qualitative, and quantitative analysis to create its portfolio. It also combines a top-down approach to determine strategy weightings with a bottom-up manager selection component. It benchmarks the performance of its portfolio against the S&P 500 (TR) (US$), HFRI Fund of Funds Index (US$), MSCI World Index Gross (TR) (US$), and JPM Global Government Bond Index (TR). Dexion Equity Alternative Limited is formed on March 23, 2004 and is domiciled in Channel Islands.