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From the Opalesque team: Damien Hatfield of Sydney-based advisory group Triple A Partners Australia has seen a number of announcements of either early-stage investing or joint ventures with start-up Australian hedge funds: “They certainly put paid to the idea that Australian institutions are loathe to support local managers,” he noted in his most recent newsletter.
The Atrium Australian Equity Market Neutral Fund which was launched late last year, for example, was backed by Fitzpatricks Dealer Group. The fund manages $25m on behalf of Fitzpatricks and expects more capital in the future. “It’s great to see Fitzpatricks having the foresight to back such a manager,” Hatfield wrote.
ING Investment Management gave a substantial mandate to Taurus Funds Management to invest in Gold and Precious Metals. The assets are managed by Brenton Saunders and Mohendra Moodley, who also run a Global Resources hedge fund. “Again, a huge vote of confidence in an Australian based manager,” said Hatfield.
There is also a joint venture between Australian Unity and Hong Kong-based Seres Asset Management. Seres manages a pan-Asian L/S equity fund and a long-only fund. There will be an Australian Unit Trust and Offshore Feeders. “This is a substantial commitment from the $10bn Australian Unity who already support a number of local boutique managers including Platypus, Acorn, Vianova and Wingate,” Hatfield commented.
Furthermore, Local Government Super has shown support for a...................... To view our full article Click here
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