The new fund is aimed to provide individuals and institutions with an investment product previously been available only to institutions and wealthy individuals through hedge funds.

COGMX & COGIX incorporates long/short approach and ROTA/ROME valuation strategy to deliver long-term performance against S&P 500, claims the company.

Cognios Capital chief executive officer John Brandmeyer said, "The goal of this new mutual fund is to give retail investors access to a proprietary long/short equity strategy."

Utilizing risk management techniques, including the use of hedging through short sales, the fund limits the downside risk of the portfolio.

The fund, which has capabilities to generate alpha2 for the fund, has been indexed to the S&P 500, whereas most market neutral funds are indexed to treasury bills.

Founded in 2008, Cognios Capital provides investment advices to institutional clients and individuals. As of 30 November 2012, it had $132.9m assets under management.