Select Gottex hedge funds top Morningstar ratings
Two Gottex funds managed by Select Asset Management have been awarded a ‘highly recommended’ rating in a Morningstar survey of funds of hedge funds.
The Select Gottex Market Neutral Fund, and a two-times leveraged version of the fund, the Select Gottex Enhanced Market Neutral Fund, were the only funds to achieve the rating in their survey peer group of five funds.
Select’s two Gottex Funds “achieved what we believe a hedge fund should deliver — consistent, absolute returns”, according to Morningstar head of research Justin Walsh.
He said the funds had attained the “highest percentage of positive absolute return months for the surveyed peer group — greater than 90 per cent, and have produced only three negative return months since first being offered in Australia in January 2003”.
“This has been achieved by a strategy of focusing primarily on market-neutral, arbitrage-focused managers that do not take directional bets, resulting in a portfolio with little or no correlation to other asset classes.”
The survey found the Select Gottex Market Neutral Fund and the Select Gottex Enhanced Market Neutral Fund had generated annualised net returns after all fees of 9.6 per cent and 11.7 per cent respectively.
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.
