Pengana profits from hedge fund web
Listed investment company Pengana Managers Limited reported its first ever half year performance today with a modest net profit of $54,248 for the second half of 2004.
The listed entity, which launched in June of last year, generated $2.6 million of revenue from investing in Australian unit trusts that serve as feeder funds to Cayman Island domiciled funds the group has controlling stakes in.
The trusts are the Percon Managed Futures Unit Trust (100 per cent ownership), the Camelotfund Global Macro Unit Trust (77 per cent), the Cape Leeuwin Capital Australian Long Short Equities Fund (100 per cent) and the Stanley Global Resources Market Neutral Fund (100 per cent).
The money made by the underlying managers of these offerings collectively will contribute to the profitability of Pengana Managers Trust due to Pengana acquiring controlling stakes in the above managers after January 1, 2005.
Pengana Managers Trust along with Pengana Managers Limited makes up Pengana Managers Group, and Aurora Funds Management provides it with responsible entity services.
Pengana Managers Limited declared no dividend after having provided for income tax, the entity only made a net operating profit of $45,001 for the period ending December 31 2004.
Recommended for you
The emergence of DeepSeek, a Chinese artificial intelligence (AI) start-up that claims to have built an advanced large language model in just two months for under US$6 million, sent shockwaves through the AI world and cratered US tech stocks.
Donald Trump’s presidency has already begun reshaping the corporate and political landscape in the US, with executive orders rolling back diversity, equity, and inclusion (DEI) initiatives and clean energy efforts.
In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by AMP chief economist Shane Oliver to take a look at what can be learned from 2024 as attention turns to what markets will do in the new year.
Join us for a special episode of Relative Return Unplugged as hosts Maja Garaca Djurdjevic and Keith Ford are joined by shadow financial services minister Luke Howarth to discuss the Coalition’s goals for financial advice.
