Tue, Dec 1, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Advance A.A. allocates A$400m to new alternatives product, Colonial First State awards A$300m to three hedge funds

Wednesday, June 15, 2011
Opalesque Industry Update – Triple A Partners Australia’s May 2011 newsletter mentioned some significant investments into the hedge fund sector from a number of Australian firms.

For example, Advance Asset Management allocated around A$400m (US$425m) from its multi-sector funds into a newly-built alternatives product, an Investor Daily’s report said (source). The fund, Advance Alternative Strategies Multi-Blend, will comprise hedge fund managers that use various strategies and also invest in low-cost liquid products such as ETFs. New York-based Ramius Alternative Solutions will provide advice on manager selection, due diligence and portfolio construction.

Triple A also said that Colonial First State (CFS) had awarded A$300m (US$319m) to three offshore managers to kick start a new 'alternatives manager allocation' within its FirstChoice multi-sector funds platform, as reported by Global Pensions.

It gave A$110m to Aspect Capital in London, A$105m to Neuberger Barman in New York and A$85m to First Quadrant in California. FirstChoice, which now has a 3% allocation to alternatives, is a platform for employers of small to medium businesses to superannuation plans for their employees.

Australia is the fastest growing pension fund market in the Asia region, says Triple A, an investment advisory group based in Sydney.
B. Gravrand

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. David Einhorn's hedge fund plunged 5.2% in November, set for 2015 loss[more]

    From Bloomberg.com: David Einhorn’s main hedge fund at Greenlight Capital fell 5.2 percent in November and is poised for only its second losing year in almost two decades. The losses bring the fund’s yearly drop to almost 21 percent, according to an e-mail sent to clients that was obtained by Bloomb

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From PIonline.com: Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Commodities - Stung by oil, distressed-debt traders see worst losses since '08[more]

    From Bloomberg.com: It’s mid-November, but for investors who trade in the debt of distressed companies, the year’s already done -- and they lost. Hedge funds that specialize in the debt are grappling with their worst declines in seven years. Funds managed by Knighthead Capital Management, Candlewood

  4. Regulatory - Major changes in partnership audit procedures contained in 2015 Budget Act[more]

    Contained in the Bipartisan Budget Act of 2015, signed by President Obama on November 2, is a rather complex provision that materially changes how partnerships are audited. Generally effective for tax years beginning after December 31, 2017, the so-called “TEFRA” and “Electing Large Partnership” rul

  5. Following review Yuan included in reserve currency basket[more]

    Bailey McCann, Opalesque New York: The International Monetary Fund has confirmed the inclusion of the Chinese Yuan in the reserve currency basket. This means that loans will be available in Yuan alongside other major currencies including the US Dollar and the Euro. The basket of reserve curr