Value manager, Antipodes, sets up NZ PIE funds [+ VIDEO]
Sydney-based global equities manager, Antipodes Partners, has launched PIE fund versions of two of its funds.
Tuesday, August 28th 2018, 6:00AM
The manager has offered Australian unit trust versions of the funds in New Zealand previously but now has made them available in a PIE format.
The funds in these new structures are its Global short and Global long-only funds which have A$5.85 billion and $1.68 billion respectively in FUM.
Antipodes was founded in 2015 by former Platinum Asset Management deputy chief investment officer, Jacob Mitchell, and is part of the ASX-listed Pinnacle Investment group.
Deputy portfolio manager Andrew Baud says the managers follow a “pragmatic value” approach to investing.
Despite value funds struggling in recent years the two funds have performed well.
The Global long fund has produced a net annual returns of 14.4% since inception and the Global long-short fund has done 13.3% annually.
Antipodes recently appointed managing director Andrew Findlay says launching the PIE funds and having David Batty as head of business development in New Zealand demonstrates the firm’s commitment to New Zealand.
“We treat New Zealand as a home market,” he says.
One of the biggest issues in the market is all the “noise”, Baud says.
When asked about Donald Trump and his impact on the market, Baud says the long-term risk is that Trump will erode trust. Yet trust is important for governments and companies when it comes to trade.
He said European banks were now in a much better position than Australian banks.
While there have been concerns about Turkey, Baud says the country’s economy is in good shape.
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