Big retail fund REST has awarded a $100 million fund of hedge funds mandate.
The appointment was announced in late April and will see the IXIS mandate managed by affiliate Harris Alternatives via the Harris Alternatives Aurora Hedged Equity Offshore Fund.
REST executive director said the fund was looking to complement its portfolio with an absolute return investment product and had been attracted to the lower volatility and diversity associated with fund of hedge funds.
The mandate will see an investment in the Harris Alternatives Aurora Hedged Equity Offshore Fund, which seeks to achieve long-term capital appreciation through the use of a multi-manager, single strategy investment approach, focusing on global long/short managers.
The sovereign wealth fund remains cautious of the impact of high inflation as it announces a strong return in its latest update.
Australia is becoming increasingly recognised as an attractive investment opportunity against global counterparts, recent analysis has found.
Pension funds in Australia and the UK are embracing recent developments that will facilitate the deployment of superannuation capital toward the energy transition in both countries.
With the Goldman Sachs’ S&P 500 long-term outlook occupying headlines over recent days, an Aussie economist has weighed in, noting that, while difficult to time, the US market is poised for a downturn.