Painfully aware that some Australian institutional investors have “drawn a line” through hedge fund-of-fund investments, a subsidiary of FRM is taking a different approach that generates not only returns from underlying managers, but also a share of their corporate revenue streams as well. FRM Capital Advisors (FCA) launched its Catalyst Fund in late 2007, and so far has US$350 million under management, which it has invested in six managers ranging from Victory Park Capital, an asset-backed lender, to Varna Capital Management, the equity long/short fund run by Svetlana Lee, who brought her analyst team with her from Citadel. Rather than merely make an investment, however, the Catalyst model “recognises the value in the due diligence process we have gone through to make that investment itself ”, according to Clive Peggram, the deputy CEO of FRM and boss of the FCA subsidiary.
No rush to internal management from Sunsuper
Even as Sunsuper added to its internal investment resources last month, chief investment officer David Hartley expressed reservations about extending his team’s direct investment responsibilities much further. The addition of an actuariallytrained risk and strategy analyst, Andrew Fisher from Milliman, has taken Hartley’s team to well over 20, if one counts personnel like a Brisbane-based investment lawyer. Industry funds of a similar size to Sunsuper, like UniSuper and AustralianSuper, have begun to ramp up internal management of some asset classes.
Brits beat us for alternatives appetite
UK institutional investors have a far greater appetite for alternative assets than their Australian counterparts, particularly for hedge funds, and all at the expense of equities, a JPMorgan Asset Management survey reveals.
Frontier stays true to ‘core’ values
As Frontier Investment Consulting progresses through its Australian equities review season, its preference for the ‘core’ portfolio has become more entrenched – and that’s not good news for low tracking error active managers of domestic shares.
452 Capital keeps transitioners busy
‘452’ has been the magic number for the transition management industry, as institutional investors continue to redistribute mandates pulled from the Australian equities value boutique founded by Peter Morgan and Warwick Negus.
Military intelligence sought on Super CEO departure
The reasons for the departure of Paul Watson from Military Super, less than two years into his tenure as CEO of the $3.5 billion hybrid fund, remained shrouded in mystery last week.
Roundtable: long lifecycles don’t suit static SAAs
The financial crisis exposed a major flaw in superannuation: the inability of accumulation-focused funds to protect members on the cusp of retirement or in the early decumulation phase – when large investment losses can be catastrophic. But lifecycle investment strategies are evolving that provide funds with the tools to meet the needs of this burgeoning member segment, as discussed in a recent roundtable convened by Investment Magazine and Milliman.
Meet Investec’s new sales chief
Investec Asset Management has recruited its new head of sales and marketing from Tyndall’s institutional business development team.
Frontier stays true to 'core' values
As Frontier Investment Consulting progresses through its Australian equities review season, its preference for the ‘core’ portfolio has become more entrenched – and that’s not good news for low tracking error active managers of domestic shares.
Roundtable: long lifecycles don't suit static SAAs
The financial crisis exposed a major flaw in superannuation: the inability of accumulation-focused funds to protect members on the cusp of retirement or in the early decumulation phase – when large investment losses can be catastrophic. But lifecycle investment strategies are evolving that provide funds with the tools to meet the needs of this burgeoning member segment, as discussed in a recent roundtable convened by Investment Magazine and Milliman.
Meet Investec's new sales chief
Investec Asset Management has recruited its new head of sales and marketing from Tyndall’s institutional business development team.
Where property stands alone, Keighran follows
Retrenched from Bernstein Value Equities after a consolidation of listed property oversight into the shares team, portfolio manager Stuart Keighran has benefited from the opposite happening at MLC.
