Wed, May 4, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Boutique absolute return fund of funds searches for compatible partners globally

Thursday, April 11, 2013

by Beverly Chandler, Opalesque London:

Mike Taylor, managing director and executive chairman of New Zealand boutique absolute return fund management house Pie Funds is on a quest to find his fellow small cap absolute return funds across the globe as he puts together his first focused fund of funds.

Pie was founded in December 2007, which with the benefit of hindsight was a pretty tough date to launch. "The global financial crisis hit as soon as we started" Taylor says in an interview with Asia Pacific Intelligence, "but it provided a great opportunity. We just had to survive 2008 and if you were there at the end you could capitalise when markets rebounded."

Pie has NZ$100m ($85m) under management in three funds, having started with just NZ$3m ($2.5m) in 2007 and has, as the only small cap specialist manager in New Zealand, carved out a niche in the space. The current three funds are the Pie Australasian Growth Fund, the Pie Australasian Dividend Fund and the Emerging Companies Fund. The planned new fund will be a Global Small Companies fund of fund.

The Growth Fund is in the top 50 funds globally out of over 180,000 ranked by Morningstar for five year returns, with a five return to 31st March of 27.6% per annum, 29.8% for the last year while the Dividend Fund has achieved 50.7% in the last 12 months.

The outstanding performance is partly down to Pie’s policy of capping the amount of capital they will allow i......................

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n