Fri, May 29, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Ramius ties up with Australia's Perpetual IM to manage customized fund of funds

Thursday, April 08, 2010
Opalesque Industry Update – Ramius, the global alternative investment management business of New York-based investment bank Cowen Group, and Perpetual Investment Management, Australia’s largest investment services group, announced yesterday that they were entering into a partnership.

Under this partnership, Ramius will work with Perpetual’s Multi Manager Group to manage two separate customized funds of funds products (the Defensive Alternatives Fund and the Growth Alternatives Fund). These two funds are specifically designed to complement two multi-asset alternatives portfolios and they invest in a range of alternative strategies including private equity, private real estate, infrastructure, specialist credit and hedge funds.

Some may see this tie-up as a crucial step taken by the hedge fund industry to tap into the Australian superannuation market, because the percentage of the Australian pension fund assets invested in hedge funds is still very low compared with other western nations. Therefore, for fund managers beyond Aussie shores, this down-under resource-rich country holds a significant and largely untapped pool of potential assets.

In the recent Opalesque Roundtable conference held in Sydney (here), we learnt that each employee contributes a minimum of 9% of his/her salary into a registered superannuation (pension) fund, a requirement that continues to fuel the Australian $1.2tln pension asset base that is currently the world’s fifth largest, and rapidly increasing.

Thomas W. Strauss, CEO of Ramius, told the Financial Times: “The superannuation business in Australia is one that is going to grow significantly.”

Of that gigantic superannuation industry, the new self-managed super funds (SMSFs) segment is the fastest growing one, cutting out a meaty one-third share of total assets in the superannuation pool (see Opalesque exclusive here).

Overall, the Aussie hedge fund scenario is slightly dim, being under the influence of consultants and gatekeepers, which makes fund raising challenging. Owing to small fund sizes ($100m or $150m), these consultants are not too keen to advise clients on investing here. Even, many institutional investors choose not to take the unnecessary operational risks of investing in Aussie small, local managers.

However, this new Australian-American partnership has driven some enthusiasm into the otherwise silent Aussie markets. Ramius CEO, Strauss said about being selected by Perpetual: “our partnership with Perpetual further validates the model that Ramius has established as a sophisticated global hedge fund investment platform that has the team, experience, infrastructure and investment processes in place to deliver value-added intellectual capital to sophisticated institutional clients like Perpetual.”

With offices in New York, London and Munich, Ramius Alternative Solutions offers a range of hedge fund investment and advisory solutions, including customized and commingled fund of funds, portfolio completion, portfolio hedging, and hedge fund replication services to a global institutional client base.

Ramius will be represented in Australia by Damien Hatfield of Triple A. Hatfield, the founder of Hatfield Advisors, a third-party marketer and researcher of alternative products, entered into a joint venture agreement with Asia-based seeder and distributor Triple A Partners in December-09, to develop their combined fund distributions business on a global basis (see our latest article on Triple A: Opalesque Exclusive: Fund allocation to Asia still low from non-Asian investors but locals are raising their share of allocation, says Paul Smith here).

Damien Webb, Head of Multi Manager at Perpetual, said that partnering with Ramius would create significant benefits and opportunities for the group’s alternative investments funds to meet the investment objectives of its clients.

Perpetual is one of Australia’s top 100 companies listed on the Australian Securities Exchange. The group offers a broad range of products for personal investment, superannuation and retirement as well as corporate funds management. It manages investment funds exceeding $29bn, administer over $222bn of client funds, and advise clients on over $8.1bn of investments (as of 31-Dec-09).

– Chakraverty & Gravrand -

Source

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. Investing - Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds, Hedge funds buy Actavis, Valeant. ETFs join the party, The most loved biotechs of big hedge funds, Stocks to buy ... according to hedge funds, Atlantic City bond offering attracts hedge funds as buyers, Okumus Fund Management discloses huge new Ascent Capital Group stake[more]

    Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds From Boingboing.com: When a giant hedge fund is bidding on all the foreclosed houses in a poor neighborhood, living humans don't stand a chance -- but that's OK, because rapacious investors make great landl

  2. Institutions - Institutional investors turn to real estate, planes, Assets at Boston’s five biggest family nonprofits rise to $3.5bn[more]

    Institutional investors turn to real estate, planes From Joins.com: The National Pension Service and domestic emerging market specialists who did not know where to invest in a low interest rate environment are turning to other investments like the blue-chip real estate market abroad.

  3. Regulatory - Hedge funds face tax as Iceland poised to end capital controls, Comment: Why alternatives need more transparency, not enforcement[more]

    Hedge funds face tax as Iceland poised to end capital controls From Bloomberg.com: Hedge funds and other investors who bought claims against Iceland’s failed banks face a tax that targets the lenders’ estates as the government prepares to unveil its plan for exiting capital controls in t

  4. Opalesque Exclusive: BMO launches multi-strat '40 act fund[more]

    Bailey McCann, Opalesque New York: As we reach new market highs, investors are looking for a way to diversify and protect their portfolios from a potential market correction. Liquid alternatives are rapidly gaining ground as a critical tool for investors to use to mitigate downside risk. The BMO

  5. All hedge fund strategies rebounded last week as market conditions normalize[more]

    Komfie Manalo, Opalesque Asia: After a difficult start this month, all hedge fund strategies ended last week in positive territory, as the Lyxor Hedge Fund Index gained 0.9% (-0.2% MTD, 3.3% YTD). According to Lyxor AM’s latest Weekly Briefing, in t

 

banner