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Alternative Market Briefing

Self-managed super funds promise growth for Aussie hedge funds but local investors still reliant on consultants, which makes capital raising challenging

Wednesday, March 24, 2010

From Sagar Chakraverty, Opalesque Asia:

"If we contrast Australia to overseas, we are an immature industry. There are very few funds here with 10 years of track record. There are very few organizations with the robustness and stability to prove they can do something through time, when the markets fail," Adrian Redlich, CIO of Merricks Capital, an alternative funds manager based in Melbourne, said in the Opalesque Australia Roundtable 2010 sponsored by Sydney-based hedge fund consultancy Australian Fund Monitors.

Nevertheless, the domestic Australian hedge fund industry protected investors during the 2008 crisis, losing only 17.74% compared to a 40% drop in the Australian Securities Exchange (ASX). Out of 200 plus managers in this market, 50 managers returned positive performance and across the entire Australian hedge fund industry, 90% of managers outperformed the ASX200.

For those investors that did request to redeem funds during the financial crisis, Australian fund managers were also well prepared to meet liquidity needs, and Chris Gosselin, CEO of Australian Fund Monitors pointed out, "Australian managers, with the exception of fund of funds, had an excellent track record when it came to meeting the redemption flood of 2008 and early 2009."

The $1.1tln domestic investments target Se......................

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