Van Eyke hedges its bets

Hedge Funds of Australia (HFA) has been given the thumbs up by van Eyk Re-search, unlocking the product for about 700 advisers who require the research to recommend the product to their clients.

Hedge Funds of Australia (HFA) has been given the thumbs up by van Eyk Re-search, unlocking the product for about 700 advisers who require the research to recommend the product to their clients.

The respected research house has rated HFA’s Australian Blue Chip fund an “at-tractive investment opportunity”.

“We suggest investors consider direct exposure to Australian shares with an in-vestment in the HFA — ABC Fund,” the van Eyk report states.

The van Eyk rating follows approval for the fund by Lonsdale in a report released in November and approval for the fund on a number of master trust menus and dealer recommended lists.

HFA managing director Spencer Young says Perpetual’s Symetry master trust, the Lonsdale/ BT AssetLink wrap account and the Sydney based Confidens master trust had both added the fund to its list while Roger Gumley’s Austchoice master trust is set to follow suit. Lonsdale and Professional Investment Services are two of the big league dealer groups which have added the product to their respective rec-ommended lists.

Young says take-up of the hedge fund was slow to begin with but has built solidly over the past few months. He hopes to have about $30 million under management by Christmas.