Macquarie hedge fund offering expanded
Macquarie Portfolio Management has expanded its range of hedge fund investment options, giving retail investors access to a global group of absolute return hedge fund managers.
Macquarie Equity Markets Group division director Cathy Kovacs said the Macquarie Equinox Select Opportunities Trust offered Australian investors different investment styles across three categories.
“Specialist Funds provides exposure to strategies focusing on Asia and emerging markets.
“Opportunistic Traders provides exposure to strategies focusing on trends in global financial markets, and a Diversified Fund provides investors with exposure to a broader range of hedge fund-style strategies in more developed markets,” she said.
All offshore investments will be hedged to Australian dollars to minimise exposure to foreign currency movements.
The manager has also launched the second series of the Macquarie Newton Multi-Strategy Fund — Capital Protected. This is an absolute return and specialist equities strategy fund, but offers capital protection to retail investors by ensuring their initial capital outlay is protected at the date of June 3, 2013.
The first series of this fund closed with $70 million in funds under management.
Kovacs said: “Investor appetite for absolute returns is set to increase as investors look for ways in which they can diversify their exposure away from traditional long-only managed funds.
“This new initiative adds a safeguard for those who are risk conscious.”
For both funds, Macquarie is offering investors the ability to borrow 100 per cent of the amount needed to invest, with interest rates starting at 7.25 per cent.
Recommended for you
Platinum Asset Management has provided an update on the possibility of a merger with asset manager L1 Capital following a period of due diligence.
Commentators may be forecasting consolidation in private market firms but a survey of the industry itself expects new manager formation will still outpace this, especially in Asia Pacific.
Fund manager Pacific Current has appointed a former superannuation chief executive as its newest chair, succeeding Tony Robinson who departs after almost a decade to focus on his role at COG Financial.
The possibility of a private credit ETF is looking unlikely for now with US vehicles seeing limited uptake, according to commentators, but fixed income alternatives exist that can provide investors with a similar return.
