AXA Rosenberg has launched a global equities fund with a 30 per cent shorting capability and a seed investment of $250 million.
“The fund has been seeded by a very large superannuation fund,” Nicholas Smith, AXA Rosenberg managing director Australia/New Zealand, said. He said the fund had been launched in response to investor demand for a 130/30 long/short type fund. “We’ve seen very strong demand for people looking for MSCI World-type returns with limited exposure to shorting. This fund allows them to do that,” Smith said. Equity Trustees is the responsible entity for the fund. AXA Rosenberg manages $5 billion in funds under management in Australia and $USD 100 billion worldwide. Smith said the new fund offers investors more exposure to the MSCI per dollar of investment than a traditional portfolio. The fund can be invested in as many as 450 stocks.
22/08/2006
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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