Strongest ever inflows for HFA
Alternative investment managerHedge Funds of Australia(HFA) has recorded its strongest ever inflow of funds after reporting inflows of $36.2 million for the March quarter.
Retail and master trust funds for the month of March 2003 grew by over $2 million per week, or a month on month growth rate of around 30 per cent.
HFA managing director Spencer Young says the growth occurred despite the negative sentiment recently directed at hedge funds and questioning the validity of them as investment vehicles.
“It’s all about performance versus risk and I think we have now proved to Australian investors that we manage both sides of the investment equation very well,” Young says.
In terms of performance, HFA’s Diversified Investments Fund (DIF) delivered a 2.8 per cent return for the March quarter compared to the MSCI return for the same period of -5.7 per cent. For the 12 months to the end of March the DIF returned 8.3 per cent, compared to the MSCI benchmark of -25.9 per cent.
The fund’s assets are managed through 12 diversified strategies spread across 35 selected managers.
In the continuing uncertain investment climate, Mr Young believes HFA will continue its funds growth momentum as well as maintaining its trend of outperforming the major indices.
“Further, our performance record is great news for institutional investors and superannuation funds where continuing poor performance is being subjected to increasing scrutiny by investors and members.”
HFA, majority-owned bySuncorp Metway Investment Management, specialises in the development and management of thirteen international and domestic hedge funds for the Australian retail and institutional market.
It has over 4,000 financial advisers recommending, or approved to recommend, and has over $150 million under management.
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