UBS Global Asset Management has released marketing literature which pitches its newly launched U.S. Equity Alpha Fund as an offering that provides higher returns without added risk.

The fund takes long and short positions in an effort to beat the Russell 1000 by between 2.5% and 5%, net of fees.

Tom Digenan, portfolio manager at UBS, said the firm launched the fund because it felt it was missing out on opportunities offered by its equity research. UBS previously had no way to capitalize on U.S. stocks it saw in a negative light other than to avoid buying them.

The UBS literature calls the fund a core equity fund with the flexibility to go long and short. It says investors need better returns from mutual funds than the wider market can offer. UBS is balancing its short risk by using leverage in its long investments--keeping a 130% long and 30% short balance.