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Traditional managers eye hedge fund space

Funds Management

Big and traditional managers are encroaching further on the space of alternative managers, gauging by winners and finalists at the sector’s annual awards on Friday night.

The Australian Alternative Investment Awards, held in conjunction with the Hedge Funds Rock charity night at the Sydney Hilton, December 10, represented a welcome live, and lively, event for the hedge funds and alternatives managers sector.

Traditional and established managers such as Perpetual Investments, Janus Henderson, J.P. Morgan Asset Management, Legg Mason (acquired by Franklin Templeton), Acadian Asset Management, Stewart Investors (part of First Sentier Investors), BlackRock (the world’s largest fund manager), Neuberger Berman and multi-affiliate Pinnacle Investment Management all featured as finalists or winners on the night.

Pinnacle told the story. A sponsor for the first time, it was well represented by founder Ian Macoun and chairman Alan Watson, head of retail distribution Rasmin Jajoo and a table of senior executives.

  • Macoun said, before presenting the major award of the night to L1 Capital as ‘Alternative Investment Manager of the Year’, that most of Pinnacle’s growth in future would come from the alternatives space.

    Pinnacle received the award for ‘Best Investor Supporting Australian Alternative Managers’. The firm last month announced its first private equity affiliate through a 25 per cent stake in Five V Capital.

    The awards night represented the 20th anniversary of Hedge Funds Rock. For the 20th time, Kim Ivey, one of the founding fathers of the hedge fund industry in Australia, presided over the event – 350 fund managers, investors and service providers getting together in person for the first time in two years.

    Ivey, the chairman of the Alternative Future Foundation, which oversees the charitable contributions, said: “The judging panel for this year’s awards was unanimously positive on the quality of the returns across all strategy classifications. Because risk-adjusted returns are being measured within strategy peer groups, we always find that managers which capture good upside returns with tight downside protection, do extremely well for their investors… and rank extremely high in our judging criteria.”

    He also said they were particularly pleased to add a new award, ‘Best Specialist ESG Manager’ to reflect the growing importance of ESG factors in the alternative investment industry and manager performance.

    That award was won by the Impax Sustainable Leaders fund, which had produced a massive 34.7 per cent return for the year to June. The award was appropriately sponsored by the global administration and data company Apex, an awards supporter which recently launched a specialist ESG information product in the region.

    Alexander Ordon of L1 Capital

    L1 Capital, which has six Australian and international equities and property funds on offer, took out the ‘Best Listed Alternatives Investment Product’ award as well as the major alternative manager of the year award, accepted by Alexander Ordon, investment specialist. The Melbourne-based firm was launched in 2007 by co-managing directors Raphael Lamm and Mark Landau.

    In other popular investment categories, winners included BlackRock for ‘Best Offshore Manager Operating in Australia’, Metrics Credit for ‘Best Private Debt Fund’, Partners Group for ‘Best Multi-Strategy Fund’, Alceon for ‘Best Long/Short Equity Fund’ and Opal Capital Management for ‘Best Emerging Manager’.

    And the ‘Contribution to the Australian Hedge Fund Industry’ award was a big surprise to its recipient, or so he said. It was awarded this year to this masthead’s own Greg Bright, journalist and publisher, who has been reporting on and helping others write about the hedge fund sector since he launched his first of many investment publications (Super Review) in 1987.

     Best Emerging Manager
    WinnerOpal Capital Management
    Best Long/Short Equity Fund
    WinnerAlceon High Conviction Absolute Return Fund
    R/UL1 Capital Long Short Fund
    R/UMonash Absolute Investment Fund
    Best Market Neutral Fund
    WinnerKarara Market Neutral Plus Fund Series 1
    R/URegal Tasman Market Neutral Fund
    R/UPerpetual Pure Equity Alpha Fund
    Best Global Macro & Managed Futures Fund
    WinnerJanus Henderson Dynamic Trend Fund
    R/UJPMorgan Global Macro Opportunities Fund
    R/UBMO Pyrford Global Absolute Return Fund
    Best Multi Strategy Fund
    WinnerPartners Group Global Multi-Asset Fund
    R/UAbrdn (Aberdeen Standard Investments)
    R/UPineBridge Global Dynamic Asset Allocation Fund
    Best Alternative Fixed Income & Credit fund
    WinnerAlexander Credit Opportunities Fund
    R/UTribeca Vanda Asia Credit Fund
    R/UPerpetual Wholesale Dynamic Fixed Income Fund 
    Best Private Debt Fund
    WinnerMetrics Credit – Secured Private Debt Fund I
    R/URevolution Private Debt Fund
    R/UManning Private Debt Fund
    Best Specialist ESG Fund
    WinnerImpax Sustainable Leaders
    R/UAcadian Wholesale Sustainable Global Equity Fund
    R/UStewart Investors Worldwide Sustainability Fund
    Best Offshore Manager Operating in Australia
    WinnerBlackrock Investment Management
    R/UNeuberger Berman
    R/UPartners Group
    Best Investor Supporting Australian Alternative Managers
    WinnerPinnacle Investment Management
    R/UIronbark Asset Management
    Best Listed Alternatives Investment Product
    WinnerL1 Long Short Fund
    R/UWAM Alternative Assets
    R/UBailador Technology Investments
    Contribution to the Australian Hedge Fund Industry
    Greg Bright
    Alternative Investment Manager of the Year
    L1 Capital

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