FRM hedges bets in Australia

hedge-fund/financial-services-industry/fund-manager/hedge-funds/australian-market/investment-manager/chief-executive/director/

27 September 2001
| By Nicole Szollos |

Former Tower Asset Management chief executive Derek Goodyer has resurfaced in the financial services industry with hedge fund manager specialist Financial Risk Management (FRM).

Goodyer will head up the local operations of FRM as director after it recently opened offices in Sydney in a bid to tap into the local hedge fund business and growing interest in the products by investors.

FRM is a global fund of fund manager, with a central office in London plus offices located in New York, Tokoyo, Lausanne and Guernsey. Goodyer says the decision to move into Australia came after a number of the group’s principles, in Australia for a conference last February, saw potential in the Australian hedge fund market.

“FRM saw the Australian market at a stage where other groups are beginning to become active and commentators were suggesting hedge funds as an area people should look at, and we have been monitoring some managers since then,” he says.

FRM’s core business strategy is the construction and management of customised hedge fund of fund portfolios for institutional clients. Goodyer says for the present the Australian operation will continue to focus on institutional clients but FRM are interested in finding clients in the retail market and opening up retail access.

The Australian business is still in its primary stages with no local clients signed as yet. Last week FRM held introductory forums in Sydney and Melbourne targeting insurance companies, superannuation groups, banks and investment manager consultants. The group has also had talks with industry groups and trustees, Goodyer says.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 1 week ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks 1 day ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

2 weeks ago

One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures....

3 weeks 1 day ago

TOP PERFORMING FUNDS