AUSTRALIA - Financial Risk Management (FRM), a London-based consulting firm, has set up shop in Sydney to answer the growing interest in hedge funds from Australian pension funds.
The branch will be led by Derek Goodyer, a former chief executive of Tower Asset Management. FRM was established in 1991 and advises more than $1.5bn (£499m) in institutional client assets.
The new branch extends FRM’s global reach, which includes offices in New York, Tokyo, Lausanne and Guernsey. To mark the start of its Sydney operations, the firm has already tendered for the AUD100m (£33m) hedge fund mandate issued by the AUD10.2bn (£3.3bn) CSS/PSS's pension fund.
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