Ashton launch into Aussie retail space
Fund of hedge funds manager, Ashton Advisors, has launched two new retail products for the Australian retail market, the Ashton Select Fund and the Ashton Performance Fund.
The funds will be the flagship products for Ashton Advisors and will be administered by BNP Paribas. The Ashton Select Fund is a conservative global diversified multi strategy fund of hedge funds, while the Ashton Performance Fund is an aggressive global multi strategy fund of hedge funds.
Ashton Advisors executive director Nick Raphaely said both funds accept direct investments with a minimum of $25,000.
Raphaely said the Australian retail market is a key part of Ashton's business plan and the logical next step in its expansion. The firm is currently in discussions with both researchers and investment platforms about having the funds included on investment menus.
“The Ashton business has been operating out of London and Sydney since 2005 with a global focus. We are very pleased to have now launched our flagship products here in Australia, having established locally registered feeder funds into our offshore products,” Raphaely said.
“Ashton's products have generated positive returns for our clients in the past financial year, in what has been an extremely challenging investment climate. In an environment of uncertainty, we believe our absolute return focus will have strong appeal to Australian investors.”
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
