Five Oceans opened for inflows
Boutique fund manager Five Oceans opened for business this week with the launch of its inaugural international equities fund.
Challenger Financial Services bought a 25 per cent stake in the Sydney-based absolute returns focused fund manager when it was established in September this year.
The purchase marked the Kerry Packer-backed Challenger’s first effort to offer international equities to its clients.
Clients will need $100,000 to access the fund, which aims to invest in 50 stocks from various world markets.
Five Oceans said it hopes to generate consistent positive returns by gearing, using derivatives and holding short positions on overpriced stocks.
The buy-in by Challenger was its second this year, having followed a similarly sized investment in boutique small caps manager Kinetic Investment Partners.
Kinetic was formed after capacity constraints forced Challenger to shutdown the small cap fund it bought off HSBC Asset Management in March.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
