West Palm Beach (HedgeCo.Net)- HFA Holdings, an Australian hedge fund manager that manages more than $3 billion, announced a surge in annual profit, and says the outlook is very positive.<\/p>\n
Paul Jensen, cheif Executive at HFA, said the outlook for the company remained positive despite recent equity market volatility. Annual profit was $20.3 million, up 288%, while normalised profit, excluding one-offs, was up 157%.<\/p>\n
HFA, which listed on the Australian stock exchange in April 2006, said the result beat its prospectus forecast guidance of a $13.9 million profit, by 46%. The hedge fund manager also announced that they plan on reopeninf two of their funds for investment in the first half of fiscal 2008.<\/p>\n
The strong result reflected continued inflows into its hedge fund products, plus two capital raisings during the year. The declining share price forced HFA to postpone an estimated $700 million cash-and-scrip takeover of US counterpart and long-time investment partner Lighthouse Investment Partners.<\/p>\n
HFA previously told the market that it had taken short positions on the US sub-prime mortgage market and was therefore benefiting from the crisis, but that hasn’t stopped its shares falling from $3.00 on July 25 to a low of $1.65 on August 15.<\/p>\n
With offices in Sydney, Melbourne, Brisbane and executives based in Perth and Hobart, HFA is a specialist funds management company providing absolute return fund products to retail, wholesale and institutional investors throughout Australia.<\/p>\n
Alex Akesson HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! West Palm Beach (HedgeCo.Net)- HFA Holdings, an Australian hedge fund manager that manages more than $3 billion, announced a surge in annual profit, and says the outlook is very positive. Paul Jensen, cheif Executive at HFA, said the outlook for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6467","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6467"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6467\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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