High Octane support for HFA fund
Absolute return fund manager HFA Asset Management has attracted over four times as much money into the second instalment of its capital protected ‘Octane’ fund of funds as it did for the first.
HFA’s Octane Fund Series 2, pulled in $90 million, largely from retail investors, during a 12 week capital raising period which closed today.
“The feedback we received from advisers after we launched the first fund last July was that a lot of their clients really wanted that kind of fund round about the end of the tax year,” said HFA portfolio manager Peter Coates.
The Octane Fund Series 2 offers investors the opportunity to margin lend into the investment, which is capital protected.
Coates said it was targeted at investors who were either taking their first leap into absolute returns or those taking out a margin loan and wanted the comfort of capital protection.
The fund uses 11 different investment strategies and is diversified across 50 international specialist managers covering most asset classes including small to large cap stocks, fixed interest and property.
The first Octane Fund was opened up to investors in July 2004 and attracted $20 million by the time it went live in October. In the period from end of October 2004 to end of March the fund returned 3 per cent, annualised to 9.1 per cent.
Recommended for you
Advisers need to closely scrutinise how much volatility exists in private assets during their portfolio construction and how this is demonstrated by the providers, according to commentators.
Consulting firm Bain & Company has shared how it believes the wealth management industry can be transformed and three questions firms should consider.
Prime Minister Anthony Albanese has confirmed who will succeed Stephen Jones to serve as the Assistant Treasurer and Financial Services Minister.
As the ESG and sustainable investment market undergoes greater consolidation, three commentators explore how financial advisers can explain a fund closure or renaming to their clients.
