BT takes equity stake in Voyager
BT Financial Group has taken an equity stake in US specialist fund manager Voyager Funds Management, which recently entered the Australian market.
Initially, BT will distribute a new Voyager pan-Asian absolute-style hedge fund for both the retail and wholesale markets, targeting returns of 15 per cent per annum (after fees).
It is described as a long-short equity market fund, with moderate levels of risk and a low expected correlation to traditional asset markets.
BT head of product Phil Stockwell said the stake would enable BT to “access and leverage a long-short strategy in the Asia Pacific region using experienced Pacific Rim managers”.
“It complements BT’s product suite by providing a single manager, single-strategy offer that does not overlap with BT’s current alternative product range, which are fund-of-fund type products.”
Voyager co-founder Andrew Cormie said the BT stake would provide Voyager with a “strong partner, plus access to a nationwide distribution network”.
He said the manager would be “targeting stocks in all the major Asia-Pacific countries, which is a universe of over 2,000 stock”.
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