Blue Sky Hedge Funds reaches $100 million and wins big

Neil Power

Australia’s Blue Sky Dynamic Macro fund (IS16E) won Best Macro Fund at the HFM Asia Hedge Fund Performance Awards in Hong Kong on Tuesday night.

The fund was also a finalist at the Australian Hedge Fund Awards earlier this month.

Blue Sky Hedge Funds managing director Neil Power said the team was delighted with the international acknowledgement.

“Our funds are gaining great momentum, supported by our long-term investment track record, we are delighted with the recognition,” Mr Power said.

Blue Sky Hedge Funds itself has reached $100 million in assets under management (AUM) after attracting further Australian and international capital.

Managing director Neil Power said the milestone was supported by robust market drivers and international interest.

“Our footprint in New York is helping us build the US side of our business and we look forward to securing further mandates from international allocators,” Mr Power said.

Blue Sky Hedge Funds cover a range of dynamic macro, diversified quant and multi-manager strategies to help manage portfolio risk, an approach that paid off in the face of severe market volatility in late August.

“Our strong performance during the recent equity market turmoil underlines the value that we believe our funds add to a typical equity market portfolio,” Mr Power said.

“We profit during times of equity weakness, helping provide equity market protection for our investors.

“Our low correlation to our peers in the hedge fund space has also been highlighted as many did not fare so well through the recent volatility.”

Mr Power said many Australian investors were well behind international benchmarks when it came to hedge fund allocation.

“There is a huge opportunity as investors are starting to recognise the increasingly important role liquid alternatives play in portfolio diversification,” Mr Power said.

Blue Sky Hedge Funds is a division of Blue Sky Alternative Investments (ASX: BLA).