BT Financial Group has taken an equity stake in US specialist fund manager Voyager Funds Management, which recently entered the Australian market.
Initially, BT will distribute a new Voyager pan-Asian absolute-style hedge fund for both the retail and wholesale markets, targeting returns of 15 per cent per annum (after fees).
It is described as a long-short equity market fund, with moderate levels of risk and a low expected correlation to traditional asset markets.
BT head of product Phil Stockwell said the stake would enable BT to “access and leverage a long-short strategy in the Asia Pacific region using experienced Pacific Rim managers”.
“It complements BT’s product suite by providing a single manager, single-strategy offer that does not overlap with BT’s current alternative product range, which are fund-of-fund type products.”
Voyager co-founder Andrew Cormie said the BT stake would provide Voyager with a “strong partner, plus access to a nationwide distribution network”.
He said the manager would be “targeting stocks in all the major Asia-Pacific countries, which is a universe of over 2,000 stock”.
