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Asia Pacific Intelligence

Aussie independent and hedge fund assets reach $279bn

Tuesday, October 01, 2013

Aussie hedge fund veteran David Chin's Basis Point Consulting has just published its 2013 Australian Investment Managers Directory revealing the fact that Australia's 2009 independent and hedge fund management firms have reached assets of $279bn.  Of these, Chin reports that 61 are hedge fund managers with $44bn assets under management while 148 are independent long only absolute return managers with $235bn.

In terms of geography, Sydney continues to dominate as Australia's financial capital with 66% of firms managing 68% of AUM located in the city, Chin says.

Nearly a third of assets, some $85bn is deployed by 55 managers in global markets, such as global/Asian equities, fixed income and global macro. In an interview with Opalesque, Chin said these 55 managers earn export income (technically import-replacement income) that are on par with export revenues from 'high-profile' export industries in Australia such as passenger vehicles wine and live animal trade. Chin said: "Based on an assumed 1.5% p.a management fee, annual revenues from these fund managers total $1.28bn. This compares with the $1.35bn earned by the export of cars, $1.92bn earned by wine exports and $1.07 billion in live animal exports."

The 2013 Australian Investment Managers Directory includes independent firms that are either fully or partly owned by staff.  It excludes institution-owned firms except where they offer hedge funds. Also excluded are property and private equity firms, Chin explains, unless they invest in listed property/PE stocks.

This article was published in Opalesque's Asia Pacific Intelligence our monthly research update on alternative investments in the Asia-Pacific region.
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