BT takes equity stake in Voyager
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”.
Recommended for you
An FAAA recommendation to make PY advisers subject to non-compete clauses would place candidates in a “hostage situation” with their employer and potentially deter new entrants, say commentators.
While the profession struggles to keep up with strong consumer demand, a third of people who have passed the ASIC adviser exam aren’t actively practising, so where is this missing third?
Half a year after Count Financial told its advisers to exit several Metrics Credit Partners funds, research house Lonsec has now downgraded two of these products over governance concerns.
As the advice industry evolves with technology, two business consultants have said successful advice firms will be those which focus on delivering an “experience” for their clients, beyond just a transactional service.
