An award-winning Australian hedge fund manager is setting up shop in the US with a Manhattan office and new local and international hires.
NWQ Capital Management, based in Perth and led by managing partners Jonathan Horton and Stuart McClure, has appointed former Bank of Tokyo-Mitsubishi UFJ director Robert Kalish as managing director, international. Kalish will drive NWQ's US operations - in particular, delivering the recently-announced offshore version of NWQ's flagship Fiduciary Fund to a US client base.
The multi-manager Fiduciary Fund aims to achieve returns between 8% to 11% per annum over rolling five-year periods, with significantly less volatility than the Australian equity market, by allocating to managers across a range of absolute return strategies.
Kalish said there is strong demand for Australian and Asia-Pacific absolute return funds in the US, and that "NWQ's globally recognised position in the Australian absolute investments market made the role a very appealing one."
Horton added: "We have seen significant interest from the US market in the new offshore fund, so it made sense to have boots on the ground there to make the most of that opportunity and build a client base with a hands-on approach."
As part of the firm's local growth plans, NWQ has also appointed former Man Investments Australian director Tim Banfield as managing director of distribution.
Horton continued: "To secure such experienced and sought-after professionals I think speaks highly of what we're achieving at NWQ, and where we're seeking to go with the firm. It's our belief that the type of investments we offer will meet with increasing demand as public capital markets become more challenging to navigate, and we're already seeing this happening."
In September last year, NWQ was given the Australian Hedge Fund Award by the Australian chapter of the Alternative Investment Management Association.