Sydney-based boutique fund manager, Dalton Street Capital has announced that it has been approved by the Macquarie Wrap platform.
The announcement followed a number of earlier approvals from Hub 24, Netwealth and Mason Stevens. Dalton currently offers its Absolute Return Fund and noted there was a demand for an Australian based alternative products in the independent advice market.
Dalton’s portfolio manager, Alan Sheen said: “Platforms that are focused on the agile, independent adviser market are responding more quickly with approvals for these new types of strategies.”
According to him, the advisers were on the hunt for un-correlated alternative opportunities in this late stage bull market and the fund managed to attract their following in the short time the strategy had been offered to the market.
The strategy also proved to be popular with asset consultants thanks to “health allocations in their managed account portfolios”, the company said.
Dalton’s co-founder, Nick Selvaratnam added: “We have a unique fund, and the fund is growing nicely, the benefits of absolute return investing are becoming more accepted and clients really understand the benefits of compounding returns these days.”
The fund aimed at delivering absolute returns in any stage of the market cycle and was tailor made for the modern portfolio.
