Pengana signs with US manager to offer absolute return fund
Funds management group Pengana Capital will expands its global investment product offering after signing a distribution deal with US quantitative manager, PanAgora Asset Management.
Pengana will offer the PanAgora Absolute Return Global Equities Fund before the end of the year with the fund offering sitting along other equity strategies in Australian shares, Australian small caps, global resources, global small caps, and Asian event driven.
The deal with PanAgora follows a similar arrangement made with Lizard Investors last year in which the Chicago based global small and mid-cap manager was appointed manager of the Pengana Global Small Companies Fund.
Pengana currently manages around $1.5 billion in funds under management with PanAgora Asset Management managing $53 billion in FUM for more than 125 institutional investors worldwide, with $2 billion of that figures managed on behalf of Australian institutional investors.
Pengana, chief executive, Russel Pillemer said the move reinforced the manager's commitment to offering investment solutions that generated absolute returns for investors.
"We are seeing a strong uptake in interest from both advisers and individual investors who are seeking ways to maintain capital and produce reasonable, risk adjusted returns in the face of a highly uncertain investment environment, increasing volatility and stretched equity market valuations," he said.
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