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Investor And Fund-of-Fund Developments

A selection of recent news about investor behaviour and Fund-of-Fund developments…

  • Morningstar’s Sector Wrap-Up for alternative funds awarded bronze ratings to five funds while no ratings were given to the nine other funds researched. Morningstar senior research analyst Julian Robertson told media that, “We do not believe that the majority of alternative strategies available in Australia are suitable for lower-risk investor portfolios… given the embedded risks and complexity.”
  • The Australian Financial Review (1 Dec) cited Tom Murphy, managing partner of Sydney-based Family Office Research, as being ‘more impressed’ by some Australian long/short market-neutral hedge fund managers, including the Bennelong Long/Short Equity Fund; the Bennelong Kardinia Absolute Return Fund; the Wavestone Australian Equity Long/Short Fund and the Regal Funds Management Long/Short Fund.
  • Certitude Global Investments has launched the Threadneedle Global Equity Income Fund, which will invest in the actively managed London-based fund by the same name. The local fund will be offered to both retail and wholesale investors.
  • Assets under management for multi-family offices globally increased 68% between 2007 and 2011 to $777 billion, according to Boston-based research firm Cerulli Associates. The firm said, “High-net-worth investors tend to be incredibly fickle; are aggressive investors but seek capital preservation; maintain multiple advisory relationships; and have long time horizons and can accept illiquidity.”
  • The number of people using a financial planner has dropped from 3 million to 2.4 million over the past five years, according to the Financial Standard citing data from research firm Investment Trends.  52% of the 520,000 Australians planning to look for a new financial planner over the next two years say referrals from a friend will be how they will decide.

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