The direct private equity market, rather than primaries or secondaries, is “the place to be over the next six-to-12 months”, according to the latest analysis by global private markets asset manager Partners Group. GREG BRIGHT reports.
ESG is the new black for asset managers
While the jury is still out on whether environment, social and governance factors influence the bottom line, savvy funds managers are sniffing the wind. They’re concluding it is perceptions that count and so ESG issues are becoming the ‘new black’, the new ‘must-have’ in the performance ratings battle. PHILIPPA YELLAND reports.
Fight for the middle ground: mezz debt makes its case
Mezzanine debt is a small slice of most Australian institutional portfolios, but last month in Melbourne the case for that slice growing larger was presented by a selection of the bestperforming mezz debt managers in the US. As MICHAEL BAILEY reports, the world’s economy needs to get capital from somewhere if it’s to get off its knees.
Hard Sell Australia’s plan to export managed funds to Asia
For too long there has been only talk about the rich export potential of Australian funds management. Now, roughly two decades after regional competitors Hong Kong and Singapore built globalised asset management sectors by adopting UCITS standards and slashing tax rates, the Australian government is making its move. It believes an Asia managed funds ‘passport’, designed to make the cross-border trade of funds easier, can strengthen Asia-Pacific markets in ways that UCITS never can while also opening new markets for Australian – and Asian – managers. SIMON MUMME reports. Why Media Super chose the local alternative
Soon after Jon Glass joined Media Super as CIO in 2009, he found a “nice, clean sheet of paper” within the fund’s $2.6 billion portfolio. There was empty space where a hedge fund program would feasibly lie. The industry fund had recently terminated some hedge fundof- funds (hedge FoF) exposure. But now that Glass is familiar with the fund’s asset mix, the former mathematician and hedge fund specialist is concentrating on building an “opportunistic alternatives” program that will invest up to 5 per cent of Media Super’s portfolio in hedge fund and alternative investment strategies. “I’m looking for fund managers and strategies who can justifiably occupy this area,” he says.
How to tap the emerging markets in a risk-appropriate manner, benchmarking, pension fund scale and the role of bonds in a portfolio were key concerns of some of the world’s largest pension and sovereign funds at a conference in Hong Kong last week. LGS seeks alpha from currency, beta of hedge funds
The $6 billion NSW Local Government Super (LGS) is up to due diligence on its first-ever active currency manager, has invested in a hedge fund beta strategy, and questioned whether it can continue to offer free financial advice to members following completion of the sale of its FuturePlus stake to Energy Industries Super Scheme.
Viva la reform: managers want reviews put into action
Australia’s proposed financial reforms will boost transparency, investor confidence and efficiency, a major survey of Australian funds managers and others active in the financial services industry, conducted by RBC Dexia Investor Services, has found.
Ankura gets nod as Russell seeks income
Russell Investments has allocated to BNY Mellon affiliate Ankura Capital for the first time, amid a host of new mandates supporting two new income-based multimanager funds for Australian equities and Australian bonds.
