Quattro fund on ice
Friday, 21 November 2008 11:15am
Quattro Asset Management has shelved plans to launch of its capital protected structured product Vault 08 and shifted its focus to buying long short equity strategies.
David Adiseshan, Quattro Asset Management executive director, said Vault 08 managed to raise $10 million before the end of June but the firm chose not to launch the product in July.
"We could have kicked it off with house money but chose not to given the clouds on the investment horizon at the time," he said.
Vault 08 was a capital guaranteed hedge fund replication strategy for retail clients. The fund provided exposure to five UBS proprietary investment strategies including four equity strategies and a currency approach using leverage to maximise returns.
Adiseshan said the firm would consider launching Vault 08 later but could not confirm if the product would keep its underlying UBS AG Group hedge fund replication engine.
Instead, Quattro Asset Management is focusing on buying a stake in short bias long short Australian equities strategies, global equities long-only unhedged strategies or single manager multi strategy hedge funds, said Adiseshan.
He said the firm is also concentrating on the Real Estate Capital Partners (ReCap) business and its recent purchase of Mariner Financial's American Property Income Trust and the Sydney Opera House car park.
ReCap is the property business division and Quattro Asset Management represents the alternative investment division. Quattro Asset Management uses Real Estate Capital Partners' licence to operate.
Michael Hobbs
This story was found at: http://www.financialstandard.com.au/news/view/24569
Printed: Saturday, 13 March 2010 2:47am