Aura Group buys stake in Singaporean hedge fund
Global financial services firm, Aura Group, has announced that it has acquired Singapore-based and MAS-licensed hedge fund manager, Vantage Point Asset Management.
The move was expected to help diversify the products by including more liquid absolute return funds while, in return, providing Vantage Point with access to Aura’s capabilities such as its distribution network.
Vantage Point manages its Global Macro Fund, which was first launched in May 2018, and has assets of around US$250m across three products.
Vantage was founded by chief investment officer, Nick Ferres, and chief operating officer, Paul Thomas.
Prior to that, Ferres was the head of multi asset solutions and portfolio manager for multi asset funds at Eastspring Investments.
“The Aura Group has an exceptional team that have built a multinational business with an expertise in building financial services firms and unique distribution channels,” he said.
“We see great opportunities to further build Vantage Point with Aura’s support.”
AUTHOR
Oksana Patron
Recommended for you
Magellan fund manager Arvid Streimann has resigned after an investigation into allegations he had a workplace relationship with a junior employee.
Clime Investment Management has sold a portion of its retail client book to an external financial planning practice for $1.6 million in its latest cost-out move.
In his inaugural address as L1 Group chief executive, Julian Russell has outlined his vision and priorities for the newly-merged $16.7 billion business but warned fund outflows will continue for 18 months.
Ten Cap has announced it will launch its first active ETF on the ASX later this month, expanding retail access to its flagship Australian equities strategy.
