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Alternative Market Briefing

Family offices and institutions back start-up Australian hedge funds

Friday, June 28, 2013

Chris Gosselin
Komfie Manalo, Opalesque Asia for New Managers:

Australian start-up managers enjoy a number of capital sources, including family offices and institutional investors, said Chris Gosselin of Australian Fund Monitors (AFM) during the latest Opalesque 2013 Australia Roundtable sponsored by Eurex and AFM.

"We have seen a number of funds have been very successful with a family office backing, and some family offices have backed multiple funds over the years," Gosselin told the Roundtable participants. He added, "Then there are high net worth individuals who are probably not really comfortable with investing in mainstream, large long only, index-type managers. Many of these investors may have previously been in the financial services industry, and so understand the benefits and the risks."

Recently, some start up hedge funds were formed with the backing of an institution or an advisory group. "So having a readymade distribution through a high net worth dealer group who has an existing client base is a great way to launch a fund," he continued.

Other new fund launches were backed by traditional "friends & family" network and were able to raise between $5m and $10m to develop a track record.

However, Gosselin opined that traditional network is a much harde......................

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