Absolute Capital to list alternative investments
Alternative investment group Absolute Capital plans to list three alternative investment products on theAustralian Stock Exchange(ASX) that target the Australian and New Zealand retail market.
The three funds, the Absolute Return Fund, the Equity Long/Short Strategies Fund and the Yield Strategies Fund will be listed on ASX within the next three months.
Absolute Capital head of distribution Joshua Goben says the launch of the funds will provide Australian and New Zealand retail investors with access to the alternative investment sector, which is growing rapidly and becoming a significant part of any European and US private investors portfolio.
“To date, Australian retail investors have been effectively excluded from the sector,” Goben says.
“With the current volatility in the equity market, we are sure these products will appeal to financial planners and their clients. Absolute Capital intends to list these funds on the ASX within the next three months which will mean retail investors can price the products daily and purchase more or redeem their investment on a daily basis if they desire,” he says.
The Yield Strategies Fund is for retail investors seeking a regular income, while preserving their capital such as for DIY superannuation or an allocated pension.
The Absolute Return Fund, a globally diversified, multi-strategy fund of hedge funds product gives the retail investor access to 270 hedge funds globally from which Absolute Capital constructs portfolios.
The Equity Long/Short Strategies Fund is a globally diversified multi-manager absolute return product. The Equity Long/Short Strategies Fund is structured and managed to preserve capital in most market conditions and to generate equity-like returns over time.
Through Absolute Capital’s global partner, RMF Investment Group (which manages US$9 billion for US and European clients), Australian and New Zealand retail investors gain preferred access to certain funds that would otherwise not be accessible to Australian retail investors.
The minimum investment for each fund is $2000.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
