Investors demand daily pricing: Pengana
Funds manager, Pengana Capital will provide daily pricing and procession of applications and redemptions on all its funds, in response to investor interest.
Pengana director of distribution, Damian Crowley, said the decision was made to bring the Pengana Absolute Return Asia Pacific Fund (PARAPF) into line with the firm's other funds, as interest in the strategy has grown among Australian investors and advisers.
"Today's investors are seeking daily liquidity and daily investment returns, and we are excited to be able to offer this service to PARAPF investors," he said.
The fund, managed by Singapore-based portfolio manager, Vikas Kumra, has received "recommended" ratings from both Lonsec and Zenith Investment Partners, and has delivered returns of 10 per cent over the last seven and a half years, compared to two per cent per annum from the Asia Pacific equity markets, and the Reserve Bank of Australia's cash rate of three per cent per annum.
"The Asia Pacific region can deliver some exciting opportunities for investors, with this fund delivering absolute returns and offering investors diversification to their portfolios," he said.
"With heightened market volatility recently, the investment team has been able to take advantage of indiscriminate selling to add to some of their high conviction positions in company deals coming to completion.
"As these are stock specific events, they are unrelated to market movements and offer attractive diversification benefits."
AUTHOR
Nicholas O'Donoghue
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