Bennelong SGI to Start Hedge Fund to Invest in Global Equities

Bloomberg – Bennelong Funds Management, an Australian fund manager with A$400 million ($271 million), will start a second hedge fund to ride through the financial crisis as it seeks to more than double funds under management.

Melbourne-based Bennelong wants to boost the assets it oversees to A$1 billion in the next three years, Jarrod Brown, chief executive officer, said yesterday in an interview in Sydney. Bennelong teamed up with Security Global Investors LLC to offer a long-short global equities fund in coming weeks to follow a long-only global fund the two began this month, he said.

SGI will manage the global funds under the Bennelong SGI name to gain access to Australia’s A$1.2 trillion dollar pool of managed funds after the $1.36 trillion hedge fund-industry shrank by more than 20 percent last year, and averaged losses of about 19 percent, the worst year on record.

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.