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(June-2003) AMP Henderson joins local hedge fund club
AMP Henderson has made its move into the local hedge fund market with the launch of the AMP Henderson Australian Equity Market Neutral Fund.
The fund will use the process which has been run out of AMP’s enhanced and absolute return funds team for almost 10 years.
Cathy Ryan, a director of this team, says: “If you look at the Enhanced Index Fund that we have managed over this period, it is effectively a combination of an index fund and a market neutral hedge fund. The index fund drives a return equivalent to that of the benchmark and the market neutral fund drives the outperformance relative to the benchmark. It is a natural step for us to offer the market neutral component as a stand-alone product which targets an absolute return.”
The fund, which opens in June, will have a maximum capacity of between $350-A$400 million.
AUTHOR
Zilla Efrat
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