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By the Opalesque team:
Ahead of the 2009 Australian Hedge Fund Awards, to be held next week in Sydney, Damien Hatfield of Sydney-based firm Hatfield Advisors, who is part of the Awards Committee, recalls some of the Australian hedge funds' good performance.
In the Hedge Fund of the Year category, the top fifteen included Blackrock, Aviva, Macquarie (MQ) and QIC, Hatfield reports, and the small boutiques Kohinoor, Excalibur, Fortitude, Astral, Argus and Kapstream were also included.
Out of the top fifteen, Kohinoor produced 73% for 2008. Argus and Blackrock produced more than 40% returns for 2008. Kapstream and Fortitude produced 7.35% and 12% respectively, which were excellent numbers considering they are Credit & Fixed Income and Market Neutral Equity, respectively. Excalibur, a Sydney based currency manager, returned 12% but annualised close to 20%. Aviva had an outstanding result in their interest rate fund, which produced 16% in 2008. QIC have performed consistently over a considerable number of years with 9% for 2008 in their Global Fixed Interest Fund.
In the numbers to June 30, 2009, nearly half the Aussie managers were positive over the twelve month period, Hatfield says. To his knowledge, few managers gated or even shut down. However, the "ATM" effect hit local managers hard. Australian managers, irrespective of performance, saw significant redemptions. Looking at the numbers, it occurred to me that asset size is a problem, even for the bi...................... To view our full article Click here
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