The frictionless movement of assets is becoming a common feature of markets around the developed world, yet Australia remains a step behind. The ASX is in no mood to rush the move to T+1, however, after its calamitous attempt to implement distributed ledger technology.
It’s a dire situation for consumers but a massive tailwind for financial advisers. More people and more capital in the superannuation coffers than ever, with a stubbornly small number of advisers to service them.Â
Yarra Capital adds long-short strategy to stable
Leading Independent Australian fund manager Yarra Capital recently announced the addition of a new Market Neutral Australia Equities investment strategy to their portfolio of funds. After agreeing on terms, Yarra Capital will assume management of the Karara Market Neutral Plus Fund from Karara Capital’s existing product range.
Yarra Capital will re-launch the fund and will keep the highly experienced portfolio manager, Andrew Smith, to run the strategy as he has done since inception in August 2016. The fund will be rebranded to the Yarra Market Neutral fund with APIR code PER2486AU.
And Smith has done a terrific job at the helm having delivered returns after fees of 9.93% p.a. since inception, equating to net outperformance of 9.02% compared to its RBA Cash Rate benchmark.
Edward Eason, Managing Director, Yarra Capital Management, commented, “We are thrilled to welcome Andrew Smith to Yarra and confirm the launch of the Yarra Market Neutral Fund. Andrew is an accomplished investor with an outstanding track record, and we couldn’t be happier to welcome him.”
No changes are to be made to the team, investment strategy, investment philosophy, process, fees or investment objectives but there will be a few enhancements.
- The Fund is now a registered management investment scheme that is open to all wholesale and retail Australian investors.
- The Fund’s minimum investment has been reduced to $10,000 (previously $250,000), and its minimum additional investment amount has been reduced to $1,000 (previously $25,000).
- The Fund now offers investors daily applications and redemptions (previously monthly).
