Testifying to growing Australian interest in hedge funds, funds management services company InvestorInfo has launched Australia's first hedge fund performance tables. Supported by a data base provided by investment marketing company Shed Enterprises, the tables are aimed at allowing retail and institutional investors to better compare the growing number of hedge funds on offer. The database will detail the funds' return volatility, key investment personnel, funds under management, fund structure and service providers.
Recently many of Australia's big pension funds have begun to look to alternative investments to increase returns after the poor performance of equity markets. A handful of retail hedge funds of funds have also recently been launched in Australia.
InvestorInfo's managing director Greg Bright said Australian investors are starting to embrace hedge funds as education and awareness of the funds increases. "The stigma associated with high-profile collapses such as Long Term Capital Management in the US has finally dissipated," he said.
"Investors have become aware that many hedge funds are more risk averse than traditional equity funds because of their investment strategies."
Bright estimated there are more than 30 hedge funds currently open to Australian investors. He said that while many of Australia's asset consultants gather information on hedge fund performance, InvestorInfo's Hedge Fund Report will mark the first publication of Australian hedge fund performance tables.
The InvestorInfo survey aims to cover the breadth of hedge fund investment strategies available in the Australian market, including long/short funds and arbitrage funds, as well as hedge funds of funds.
Preliminary data from the InvestorInfo Hedge Fund Report, which will be released in full in January, shows the Absolute Alpha Strategies Fund of Financial Risk Management Ltd was the best performer over the quarter and over the year to Sept. 30.
Despite steeply falling markets, the majority of hedge fund of funds strategies achieved positive returns for the third quarter, while stand-alone hedge funds struggled or soared depending on their individual strategies.
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