Bennelong Kardinia fund lowers entry point
The Bennelong Kardinia Capital Absolute Return fund has lowered its initial investment amount for retail investors to $20,000 and moved to provide daily liquidity.
The move was confirmed this week by the fund's portfolio manager, Mark Burgess, who claimed hedge funds with absolute return capabilities were proving increasingly attractive to investors.
Burgess said that due to their strong performance, absolute return capabilities were increasingly attracting attention in the Australian market and that since its inception in May 2006, the Bennelong Kardinia Capital Absolute Return Fund had returned 14.11 per cent a yer.
"Absolute return funds are really gaining traction in the market," he said.
"The fact t hat so many advisers have shownincreasing interest in the fund demonstrates that more retail investors are looking at hedge funds to help them achieve their return objectives."
Burgess pointed out that the fund had recently been added to several platform menus including Macquarie Super Wrap, BT Wrap, Asgard, Netwealth and Wealthtrac, as well as being added to the manager line-up of Colonial's fund-of-fund offering, FirstChoice Lower Volatility Australian Share Fund.
Recommended for you
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
Private market secondaries manager Coller Capital has unveiled a new education platform to improve advisers’ and investors’ understanding of secondaries.
