Wed, May 25, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Isolated New Zealanders deal with asset raising in different ways

Tuesday, March 30, 2010

From the Opalesque team: New Zealand, being so far away, has many courageous hedge fund managers. Courageous because they have to deal with the geographical isolation of their location as well as a local investor base that is not always open to sophisticated portfolio strategies. At the recent Opalesque New Zealand Roundtable (report here), some of these managers discussed how they handle such hurdles that are intrinsic to their beautiful country.

Enough of all this: NZ manager looking to leave London for Singapore “Right from the start of our business, we decided not to target New Zealand investors because firstly, we offer a very niche strategy; secondly, we thought to get local people to understand the strategy would be very difficult; and thirdly, that probably there would just not be the capital here for our kind of strategy,” said Anthony Limbrick, CIO of Pure Capital, a quantitatively driven investment manager.

But as due diligence trips to New Zealand (11 hours from Hong Kong, about 23 hours from London, 21 hours from New York) can be a deterrent to overseas investors, Pure set up a European office; a strategy which worked well, as the firm grew its assets from $10m two years ago to $43m.

But Limbrick is having second thoughts about being based in London: “We are seriously questioning our commitment to being in Europe. I am referring here to the plethora of re......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Paul Tudor’s hedge fund trims fee amidst poor performance, keep investors[more]

    Komfie Manalo, Opalesque Asia: Paul Tudor’s $11.6bn hedge fund firm Tudor Investment Corp. announced on Monday it would slash down fees of one of its biggest fund to 2.25% of assets and 25% of profits amidst backlash arising from poor performa

  2. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera

  3. Mitch Petrick leaves Carlyle as his hedge fund unit suffers losses while assets expand[more]

    Komfie Manalo, Opalesque Asia: Mitch Petrick will be leaving Carlyle Group as head of its hedge funds unit overseeing about $34bn as of March 31, after several funds under his management suffered losses while assets expanded, various media reported. Petrick joined Carlyle in 2010 and was a former

  4. Institutions - Kentucky pension leans into hedge funds amid governance turmoil, Korea's NPS names finalists for initial $1 billion hedge fund-of-funds allocation[more]

    Kentucky pension leans into hedge funds amid governance turmoil From AI-CIO.com: The Kentucky Retirement Systems moved to increase its hedge fund allocation as controversy reigned over fund leadership. Following a string of high-profile hedge fund exits, the Kentucky Retirement Systems (

  5. Fund Profile - The hedge fund that couldn't stay open long enough for a big payday[more]

    From Bloomberg.com: Toby Dodson waited six months for his bet against a fragile Portuguese bank to pay off. But before the reckoning, word came down from his hedge fund bosses at Achievement Asset Management in Chicago: get ready to clear out your desk and unwind your trades, we’re shutting down. Th