Opalesque Industry Update: MLC, the wealth management division of the National Australia
Bank, has appointed Diversified Global Asset Management Corporation, a leading
institutional alternative investment manager and advisor, as its hedge fund advisor.|
MLC conducted a global search for a partner to expand its coverage of alternative investment managers and strategies. MLC expects to grow its hedge fund assets from A$500 million to over A$1 billion over the next 12-18 months.
Gareth Abley, Head of Alternative Strategies at MLC said: “We selected DGAM based on their combination of investment, advisory and risk management knowledge and experience. We are confident that DGAMs expertise will help us build on MLC’s strong track record in this space and enable us to deliver the complementary net return stream that will enhance our client’s diversified portfolios.”
“We are excited to partner with MLC to broaden its investment capabilities, and believe our shared ethos will produce a successful outcome for MLC” said Warren Wright, Chief Investment Officer and co-founder of DGAM.
This partnership with MLC expands the advisory work that DGAM currently carries out on behalf of some of the largest and most sophisticated institutional investors around the world. DGAM’s advisory business applies the firm’s considerable experience investing on behalf of global institutional investors. This growing segment of DGAM’s business is a natural complement to its hedge fund portfolios, which have generated market leading risk adjusted returns.
“We look forward to expanding our advisory offering to a select group of institutional investors globally” said Graham Thouret, President and co-founder of DGAM.