Opalesque Roundtable Series - Australia
Second edition of Opalesque Roundtable Series - the Opalesque Australia Roundtable
This is already the second edition of the Opalesque Roundtable Series, the Opalesque Australia Roundtable . In an Opalesque Roundtable, we unite some of the leading hedge fund managers (single and multi strategy managers) as well as representatives of the local investor base (institutions, fund of funds, advisers) to gain unique insights into the specific idiosyncrasies and developments, the issues and advantages of each hedge fund center.
As with our first Roundtable - the Opalesque New Zealand Roundtable - also here we focus on a hedge fund center which for most of us is not really "around the corner", again underlining the value of this new Opalesque publication. No matter if you are a hedge fund investor looking for new talent, a hedge fund interested in diversifying your investor base or a service provider looking for new clients, you will get to know some of the leading heads of each hedge fund center and find invaluable information and intelligence right on your desk, without any travel involved.
The Opalesque Australia Roundtable was sponsored by Minter Ellison Lawyers (www.minterellison.com.au) and took place in their Sydney office. On behalf of Opalesque and the Roundtable participants, we thank Minter Ellison Lawyers for their support. We also thank Hatfield Liptak Advisors for putting the group together.
The participants of the Opalesque Australia Roundtable are:
Matthew Kaleel , Chief Investment Officer, H3 Global Advisors (www.h3global.com) Richard Keary , Director, Audant Investments (rkeary@audant.com.au) Michael Munns , Chief Investments Officer, Prodigal (www.prodigal.com.au) Andrew Alexander , Portfolio Manager, MQ Specialist Investment Management Ltd. (www.macquarie.com) Arthur Roumeliotis , Head of Absolute Return Research, Jana Investment Advisors (www.jana.com.au) Michael Brookes , Chief Investment Officer, St Helens Capital (www.shipl.com) John Corr , Managing Partner, Fortitude Capital (www.fortitudecapital.com) Philip King , Founder, Regal Funds Management (www.regalfm.com) Damien Hatfield , Daniel Liptak, Founders, Hatfield Liptak Advisors (www.hatfieldliptak.com)
In this Roundtable transcript, you can learn:
How local hedge fund managers exploit the relative immaturity of the industry and as a group have been outperforming their global peers consistently since 2000
Why - if you want capacity in Australian hedge funds - you should go there soon, why capacities may not be there for long
How each investor investing into Australian hedge funds can effectively optimize and simplify his due diligence process
Which strategies local hedge funds use to grow their business and AUM
Why Australian regulations are far ahead of most other jurisdictions
What must happen so that Australian pension money can flow into hedge funds
What is the composition of the $87.5bln Australian hedge fund market, to what extend has the institutional participation grown?
What is important for Australian pensions and consultants when selecting hedge funds?
The Opalesque Roundtable Series offers unparalleled intelligence on the most important global hedge fund jurisdictions and their players. The Roundtable Series is a free publication from Opalesque and is continually updated. Please scroll down to view the full selection of our Roundtables - covering the globe!
Opalesque Roundtable Series - A Catalogue of Intelligence on Global Hedge Fund Centers:
Sat, 09 Jan 2010 Tue, 15 Dec 2009 Mon, 30 Nov 2009 Tue, 17 Nov 2009 Mon, 09 Nov 2009 Mon, 19 Oct 2009 Mon, 05 Oct 2009 Fri, 26 Jun 2009 Tue, 09 Jun 2009 Fri, 29 May 2009 Thu, 21 May 2009 Wed, 13 May 2009 Fri, 24 Apr 2009 Thu, 19 Mar 2009 Fri, 05 Dec 2008 Mon, 17 Nov 2008 Fri, 07 Nov 2008 Mon, 20 Oct 2008 Wed, 01 Oct 2008 Wed, 02 Jul 2008 Wed, 11 Jun 2008 Fri, 23 May 2008 Tue, 20 May 2008 Wed, 30 Apr 2008 Wed, 23 Apr 2008 Mon, 17 Mar 2008
Today's Exclusives
Opalesque Exclusive: The EC would like to see global rules for alternative funds, but would a universal manager authorization work? [more]
Benedicte Gravrand, Opalesque London:
At the EDHEC-Risk Alternative Investment conference in London yesterday, a panel of key figures from the regulatory scene and the alternative investment indust
Opalesque Exclusive: Regulations will benefit BNY Mellon, which says QIFs and SIFS are better than UCITs [more]
Benedicte Gravrand, Opalesque London:
Marc Russell-Jones, managing director of the Bank of New York Mellon in London, told Opalesque after the Edhec conference's panel on financial regulations (see above article) that the hedge fund industry itself is changing fundamentally because o
Opalesque Exclusive: John Locke's CEO Bonnin (1): How he discovered the world of quant and why the French like it so [more]
Benedicte Gravrand, Opalesque London.
French hedge fund manager François Bonnin graduated from Paris' "Grande Ecole" ISG (Institut Superieur de Gestion). He was director of convertible trading at RAFE S.A. (AXA Group) before setting up the asset manager CAP STARDEX in 1992. After
Opalesque Exclusive: Carbon360 releases Capital Introduction Report [more]
From the Opalesque team:
The general consensus for fundraising is that 2010 holds much in the way of promise for hedge funds. Strong performance in 2009 slowed the enormous tide of redemptions, and net inflows finally took hold at year-end. Seed announcements dot the news headlines and new
Opalesque Exclusive: Schulte Roth: After beefing up legal expertise, most hedge funds now ready to embrace anticipated reforms [more]
From Kirsten Bischoff , Opalesque New York:
After the tumultuous markets of 2008 and 2009, U.S. hedge fund performance reflects how well managers are controlling market risk. However, the one risk that is still is the risk of government action (or inac
Study commissioned by MFA shows UK public short-sale disclosure rules would result in lower rates of return [more]
Opalesque Industry Update – An independent quantitative analysis published today by international management consultancy Oliver Wyman provides the first clear evidence that rules requiring public disclosure of short positions make it more expensive and difficult for all participants to invest in equ
Today's Other Voices
More Exclusives
09. Feb. |
Study commissioned by MFA shows UK public short-sale disclosure rules would result in lower rates of return [more]
Opalesque Industry Update – An independent quantitative analysis published today by international management consultancy Oliver Wyman provides the first clear evidence that rules requiring public disc
08. Feb. |
GLG launches currency-hedged Dublin-listed version of Japan CoreAlpha Fund [more]
Opalesque Industry Update – GLG Partners LP, one of Europe's biggest hedge fund firms, has launched the GLG Japan CoreAlpha Equity Fund, a currency-hedged replica of its &po
08. Feb. |
Credit Suisse/Tremont Hedge Fund Index posts positive performance of 0.17% (est.) in January 2010 [more]
Opalesque Industry Updates - Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up +0.17% in January (based on 74% of assets reporting).
Key highlight
08. Feb. |
Hennessee Index shows hedge funds decline -0.50% in January 2010 [more]
Opalesque Industry Update - Hennessee Group LLC, an adviser to hedge fund investors, announced that the Hennessee Hedge Fund Index declined -0.50% in January (-0.50% YTD), while the S&P 500 declined
08. Feb. |
Opalesque Exclusive: Review of hedge fund launches, closures, trends, regulatory and legal events - week 5 [more]
Benedicte Gravrand, Opalesque London: A roundup of the week's hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments industry.
Last week, we heard of fund launches from new firm Castle Hill (flagship)
08. Feb. |
Opalesque Exclusive: Placement agent CP Eaton expects 'impressive' hedge fund inflows in 2010 [more]
From the Opalesque team:
In its 2010 outlook, Connecticut-based, global placement agent CP Eaton Partners expresses optimism about hedge fund industry performance in 2010. With hedge funds completing an impressive 12-month turnaround that range
08. Feb. |
Opalesque Exclusive: Newly formed Nautical Capital launches absolute return commodity strategies [more]
From the Opalesque team:
New York-based Nautical Capital , which launched in December 2009, has already set the bar high for success, hoping to eventually become the investment name synonymous with commodities investing. "When you thin
08. Feb. |
Opalesque Exclusive: SEC willing to reconsider the proposed ban if FINRA could implement rules to check 'pay to play' activities [more]
From Sagar Chakraverty, Opalesque Asia:
According to a letter sent by Andrew Jr. Donohue, Director of US' Securities and Exchange Commission (SEC) to Richard G. Ketchum, Chairman & CEO of the Financial Industry Regulatory Authority (FINRA) on 18-Dec-09, the SEC indicated that an exception to
08. Feb. |
Opalesque Exclusive: Asia Pacific markets to see continued drop, but corrective patterns lack uptrend, says MTS [more]
From Sagar Chakraverty, Opalesque Asia:
A Global Markets Review issued on 22-Jan by MTS Research, a London-based investment research company specializing in technical analysis, predicts a continued drop in indices across the Asia Pacific markets.
Asian Pacific markets see weak correc
05. Feb. |
Fitch: Hedge funds performed well in Q4 2009 amid business model changes [more]
Opalesque Industry Update - Fitch Ratings says that the hedge fund industry performed well in Q4 2009 (the broad HFRI composite index was up +2.7% in the quarter and +20.0% over 2009), and experienced
05. Feb. |
Innocap IM adds Castlestone’s Porcupine Global Macro hedge fund to its managed account platform [more]
Opalesque Industry Update – Castlestone Management, an independent fund manager with offices in London and New York, announced yesterday that Innocap Investment Management, which has around $1.93bn in
05. Feb. |
Asia ex-Japan's mutual fund assets to reach all-time high in 2010, signaling quickest recovery [more]
Opalesque Industry Updates - . Asia ex-Japan's mutual fund assets are
set to reach more than US$1.1 trillion by the end of 2010, exceeding their
2007 all-time peak. This region leads the glo
05. Feb. |
Opalesque Exclusive: Highlight on energy (4) – FoHFs Culross looking for lower vol hedge funds [more]
Benedicte Gravrand, Opalesque London:
Culross is a fund of hedge funds manager that now allocates to energy hedge funds.
Energy, whether traditional or new, has provoked heated debates since the awareness of global warming and peak oil came to the fore. These funds try to take advant
05. Feb. |
Opalesque Exclusive: UK hedge funds managers undeterred by tax hike, 60 new HF firms authorised by FSA in ‘09 [more]
From Precy Dumlao, Opalesque Asia:
Hedge fund and fund managers proved to be two of the most resilient financial services in the UK in 2009 as the UK Financial Services Authority (FSA) recorded a steady registration of hedge funds in the fourth quarter last year.
London-based Corporate f
More Other Voices
25. Jan. 2010 |
Other Voices: Obama Bank’s plan revives Glass Steagall Act, may improve capital raising environment for hedge funds [more]
This article was written by Bryan Goh, First Avenue Partners LLP, London :
It sounds like a plan. President Obama in an effort to address what is widely believed to be a flawed banking model has decided to ressurrect the Glass Steagall Act 1933.
Glass Steagall 1932 had already been effect
08. Dec. 2009 |
Other Voices: Liquidity mechanics of funds have been stress-tested, more managers are reviewing suspension provisions to allow future flexibility - Ogier [more]
This article was written by Nadia Menezes, Senior Associate at law firm Ogier.
The market turbulence over the last twelve months has seen fund structures and mechanics being strenuously tested under extreme conditions. Whilst the
12. Nov. 2009 |
Other Voices: CTAs: Where do we go from here? [more]
This commentary was written by Maximilian Thiel, senior manager at AIMhedge Management Ltd, a Liechstenstein and Caymans-based alternative management firm.
The firm's flagship, AIMhedge Global Diversified Fund Ltd, is a systematic hedge fund focused on delivering absolute returns by investin
05. Oct. 2009 |
Other Voices: EU Directive refugees - Bright lights of Singapore beckon [more]
This article was written by Christopher P. Wells and Linda L. Ng. – Christopher P. Wells is a partner and Linda L. Ng is a counsel with White & Case LLP’s Tokyo and Hong Kong/Singapore offices, respectively.
The bright lights and relaxed lifestyle of Singapore beckon to EU fund managers who a
01. Oct. 2009 |
Other Voices: Hedge funds: Consideration of fraud risks in an economic crisis [more]
The following article was authored by Adam Weisman, Partner, Deloitte Financial Advisory Services LLP and Tania Lynn, Senior Manager, Deloitte & Touche LLP.
Fraud has always represented a dangerous and perhaps dangerou
15. Sep. 2009 |
Other Voices: The long arm of the law - Implications of an SEC examination to the offshore hedge fund [more]
The authors of this article are Kevin Phillip and Wade Kenny, both managers at dms Management Ltd. (dms), the largest management firm in the Cayman Islands. dms focuses on serving the hedge fund industry.
It has long been a fact of life for registered investment advisers preparing for, and su
12. Aug. 2009 |
Other Voices: Modified Volatility - 1937 paper found relevant to today's risk management challenges [more]
By Peter Urbani, CIO, Infiniti Capital:
An obscure tract by a University of Adelaide Statistics Professor, Edmund Cornish is today among the leading candidates for improving risk management.
The 1937 paper by Edmund Alfred Cornish (1909 - 1973) and Sir Ronald Fisher* provides the basis
06. Aug. 2009 |
Other Voices: Debate on hedge fund fees masks the larger issue - not all hedge funds are invested in 'hedge fund strategies'
[more]
The following was written by Rene Levesque (CFA), founder of www.mountjoycapital.com: There is nothing wrong with the hedge fund fees
Indeed, there is nothing wrong with the prevailing hedge fund fee structures. The current debate on
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Opalesque Exclusive: SEC willing to reconsider the proposed ban if FINRA could implement rules to check 'pay to play' activities [more] From Sagar Chakraverty, Opalesque Asia:
According to a letter sent by Andrew Jr. Donohue, Director of US' Securities and Exchange Commission (SEC) to Richard G. Ketchum, Chairman & CEO of the Financial Industry Regulatory Authority (FINRA) on 18-Dec-09, the SEC indicated that an exception to
Indices - HFRI Fund Weighted Composite Index down 0.71% in January, macro worst performer with -2.16%, Fitch: Hedge funds performed well in Q4 2009 amid business model changes, Update: Australian hedge funds finished 2009 up 20.81% - AFM [more] HFRI Fund Weighted Composite Index down 0.71% in January, macro worst performer with -2.16%
The HFRI Fund Weighted Composite Index declined by -0.71% in January; this after posting a gain of 20% in 2009.
Performance was mixed across main hedge fund strategies with gains in Relativ
Opalesque Exclusive: Bulldog's Goldstein launches counter attack on Massachusetts Secretary of State William Galvin [more] From the Opalesque team:
Phillip Goldstein, one of the principals at New Jersey-based activist investment firm Bulldog Investors has launched a counter attack on Massachusetts Secretary of State William Galvin, filing a civil court co
Opalesque Exclusive: Newly formed Nautical Capital launches absolute return commodity strategies [more] From the Opalesque team:
New York-based Nautical Capital, which launched in December 2009, has already set the bar high for success, hoping to eventually become the investment name synonymous with commodities investing. "When you thin
A behavioural finance fund: Statistical analysis is used to determine whether recent price action is consistent with investor or speculative market participants [more] Statistical analysis is used to determine whether recent price action is consistent with investor or speculative market participants
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