Hedge fund manager after Aussie dealers

Specialistfund-of-hedge-fund manager Investor Select Advisors is looking to team up with an Australian funds management group in an attempt to grab a foothold in Australia’s budding hedge fund market.

The Bermuda-based group is currently in the early stage of discussions with a range of local fund managers, with the ultimate aim of distributing a suite of multi-manager hedge funds to retail investors in Australia.

Investor Select’s Sydney-based chair Hans Tiederman says the group’s aim is to join up in Australia with a group that has a link to a significant distribution network of financial planners.

“We would ideally like to develop a product that is sold through financial advisers to mum and dad investors,” Tiederman says.

Investor Select’s Australian push follows the announcement last week that it had teamed up with the Wing On financial services group in Hong Kong.

The group, which has offices in New York, London, Singapore, Tokyo and Sydney, also offers a suite of hedge fund products in Japan through an alliance with Mizuho Securities.

Tiederman says the group is most likely to develop a fund made up of global hedge fund managers for Australian investors.

However, Tiederman says the group would also examine the viability of developing a fund-of-hedge-funds managed by Australian-based managers.