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Innovative and sophisticated products available to NZ investors

Absolute Capital's specialist investment solutions are being greeted enthusiastically by investors looking for alternatives to traditional investment techniques.

Friday, May 16th 2003, 12:31PM
Who is Absolute Capital?

Absolute Capital Limited ABN 65 095 263 353 (“Absolute Capital”) is a wholly owned subsidiary of Absolute Capital Group Limited (the Group) which is one of Australia’s leading providers of alternative investment services. Through its various member companies, the Group is active in asset management, investment banking, structured finance and specialist risk transfer. The Group was established in early 2001 by its principals, Deon Joubert and Michael Devlin and now manages over AUD 230 million (as at March 2003) on behalf of both institutional and retail investors. The Group is based in Sydney and employs 22 investment professionals and specialist support staff. It is majority owned by its founders and senior executives.

Absolute Capital Limited is well known for its multi-manager hedge fund products and its unique Yield Strategies funds. Three retail investment products were listed on the Australian Stock Exchange during September 2002, an Australian first. Absolute Capital Limited is recognised as a pioneer of alternative investment products in Australia and is driven by innovation. We believe that, in an age of generic high-volume products and services, there is a need for a unique specialist investment management approach. Perhaps the most important innovation to date is our structured products capability. We have taken up the challenge to develop products that not only have their principal protected, but also pay income to investors throughout the investment period.

As the population ages and a larger proportion of investors seek conservative yield-driven products that seek to produce absolute returns and preserve capital, we believe that we can meet this demand with specialist solutions.

Our Investment Management Philosophy

Our investment philosophy, Strategy First, is the framework and guideline within which we operate and implement our strategy. Strategy First is founded on our philosophy of what we believe the principles of absolute return investment management to be. We believe in the use of non-traditional investment techniques to create absolute returns from a diverse range of assets, asset types, financial markets and fund managers. Our philosophy addresses two broad concepts - risk and return. Risk is placed ahead of return in that our principal objective is to preserve capital. It is for this reason that risk is paramount in our assessment of investment opportunities.

Our attitude towards risk is not necessarily that less is more. In fact, minimising risk will only reduce return in line with the universal truism that risk and return are directly related. Instead, risk has to be limited to an acceptable level which is sufficient for the generation of investment returns in line with objectives. Unlike risk, we seek to maximise return. As much as risk has to be managed and minimised in a controlled environment, return has to be understood. More specifically, the source of return must make sense. The objectives we strive for is our destination, while the philosophy we employ is our route leading to that destination.

Products Available to NZ Investors

Three retail alternative investment funds are available to New Zealand investors – The Absolute Return Fund, The Yield Strategies Fund and The Equity Long/Short Strategies Fund. Absolute Capital has created Class B units of the funds specifically for New Zealand investors.

The Yield Strategies Fund is the first of its kind to be available to the New Zealand retail market and offers a new income product to investors. The Yield Strategies Fund is unique to Australia and New Zealand and offers a greater degree of diversification when compared to other traditional products in the market. The Fund indirectly accesses income streams from portfolios of bonds, bank loans, mortgages and asset backed securities and is backed by more than 50,000 individual credit risks.

The Absolute Return Fund aims to produce absolute returns with very low volatility by combining an alternative debt portfolio with a multi-strategy, multi-manager hedge fund portfolio to give an investor indirect access to approximately 30 globally diversified hedge funds, some of which are not accessible by Australian and New Zealand retail investors.

The Absolute Return Fund (Wholesale), with a similar investment strategy to the retail fund, returned 5.86 per cent (net of fees) to 31 December 2002, compared to -7.3 per cent for the median balanced growth fund for the same period*.

Minimum investment in the funds is AUD 2,000.

Who Distributes our Products?

Absolute Capital has distributed investments statements for the Funds to major financial planning firms throughout New Zealand. In addition the Funds can be accessed via the Boxer and Aegis platforms. Investors may obtain investment statements from their financial adviser or directly from Absolute Capital Limited).

Returns have been calculated using mid prices after taking into account all Absolute Capital’s ongoing fees and assuming reinvestment of distributions. No allowance has been made for taxation. Past returns are not indicative of future returns.

This information was prepared by ACL and to the extent permitted by law, no liability is accepted for any loss or damage arising as a result of reliance on this information. This information is general information and is not financial advice, and does not take into account an investor’s investment objectives, needs and circumstances. An offer to invest in the Funds will be made in a copy of the current investment statements.

« Alternative funds available in NZSt Laurence says: forget fees »

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