The pursuit of fee details has increased the fund’s investment cost ratio by roughly one-third: of the fund’s headline investments cost of 99 basis points, underlying strategies in private equity FoFs run up a bill of 31 basis points. Donohue says it was particularly difficult to get fee details from offshore managers. “Private equity managers in Australia have been good, but for the ones in international jurisdictions, it’s something new and they found it quite challenging.”
The senior investment leader describes the governance challenges as “huge” for funds moving into alternative asset classes because of the complexity and also because of the gap between the best and worst performing general partners and investment managers.
Matthew SmithMarch 10, 2021
This year’s single-best trade was Chinese mid-cap semiconductor and tech stocks, according to UBS O’Connor's Kevin Russell. This illustrates how China’s domestic consumption economy allows it to combat any trade wars with the US.
Jessica SierSeptember 24, 2020
While Sunsuper's access to cash and public market meant its alternatives allocations weren't tapped for liquidity to facilitate early release payments, Tomlinson said he could take advantage of some more liquid ‘hedge fund-type’ investments during tumbling markets.
Jessica SierSeptember 23, 2020