AUSTRALIA - Asset managers Barclays Global Investors Australia (BGIA) has launched an equity market neutral fund.
The BGI Equity Market Neutral Fund is an equity hedge fund targeted at institutional investors and fund-of-fund providers.
The fund aims to deliver a return of 7-8% per annum above the cash rate (alpha); have risk of around 4% per annum; and achieve a net exposure of near to zero to equities by having long and short security positions across industries and styles.
Commenting on the launch, Morry Waked, director of equity investments, said: Long-short investing is becoming an area of increased interest for many investors who are discovering the benefits of these types of investment strategies.”
Waked added that the fund could be used as either a total return product, or a portable alpha strategy. *BGIA has also strengthened its adviser services team with a new appointment.
BGIA has hired Anna Walk as a client services representative, based in Sydney. She reports to Michael Ohlsson, director of adviser services.
Walk previously worked for BGI in its London office as a member of the client service team. Before joining BGI in October 1998 she worked for National Australia Bank in their retail network as a business banking officer. By Madhu Kalia
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