Jana Investment Advisers has launched its multi-manager hedge fund product Triplepoint Fund to the retail market.
The offering is currently available to retail investors through MLC MasterKey Custom and Macquarie Wrap, with Jana looking to add more platforms in the near future.
Triplepoint Fund principal and portfolio manager Michael O’Dea confirmed Jana is currently in discussions with two other platforms.
“Over the last couple of weeks I’ve been touring the country talking to financial planners and so far the response has been really positive, even despite the issues last year around hedge funds,” he said.
Triplepoint is a multi-manager fund employing a range of specialist hedge fund managers and strategies. It has a management fee of 1.35 per cent and aims to deliver a return of cash plus 5 per cent per annum, post fees and pre-tax, over a four-year period.
The fund was launched in the institutional market in December 2007 and was designed to address the major concerns of investing in hedge funds such as poor transparency, poor liquidity and high fees.
O’Dea said a further benefit of the fund is risk is more tightly managed as Jana retains full transparency, and ownership and control of the individual investment positions in the portfolio are separated from the investment manager.
“This reduces the risk of having unexpected positions, which was the case for some funds investing in pooled vehicles during the global financial crisis,” he said.
“It also provides investors with daily liquidity to enter or exit the market – a distinct advantage relative to some other funds.”
