The high-performing Tribeca Global Natural Resources Fund topped the Best Long/Short Equity Fund category in the Hedge Funds Rock & Alternative Investment Awards announced on 13 September.
The Tribeca Global Natural Resources Fund triumphed over two other finalists in the category: the Antipodes Global Fund and the Regal Long/Short Australian Equity Fund.
The fund, which has $500 million under management, is one of nine funds under the wing of Australian boutique fund manager Tribeca Investment Partners (Tribeca).
Tribeca portfolio manager Ben Cleary said he was honored by the win.
“This win shows that our investors and peers recognise the value of Tribeca’s investment philosophy and that the team has a well-considered strategy and a well-positioned, experienced team to execute it and generate solid returns for our investors,” he said.
The fund’s investment strategy aims to take advantage of volatility in the natural resources sector.
The fund takes both long and short positions and invests along the value chain and through capital structures – equities, commodities and credit – to capitalise on relative value and valuation mispricing. It delivered a cumulative net return of 233.75 per cent and an average compound annual return of 57.21 per cent, after fees, since it was established in October 2015.
The Hedge Funds Rock & Alternative Investment Awards recognise managers who perform whilst maintaining the objectives of the investment industry, including consistent, competitive risk-adjusted returns independent of the direction of financial markets.
Tribeca Investment Partners is currently undertaking a $250 million initial public offer (IPO) for its new listed investment company, Tribeca Global Natural Resources Ltd (the Company or LIC). The LIC’s investment strategy will be similar to that of the existing Tribeca Global Natural Resources Fund.
The LIC aims to generate a compound annual return in excess of 15 per cent, after fees and expenses, whilst preserving capital over the long term (five years plus).
The LIC is seeking to raise up to $250 million through an issue of 100 million new shares at $2.50 each, with potential for $50 million in oversubscriptions.
The LIC expects to start trading on the Australian Securities Exchange on 12 October.
