Tamar Hamlyn

Specialist fixed income manager, Ardea Investment Management, has recorded total funds under management exceeding $4 billion as it celebrates five years of investment performance in the Australian fixed income market as at 31 May 2014.

With a focus on delivering controlled returns, Ardea offers a range of products to institutional investors, including customised mandates, a traditional benchmark-focused unit trust and an objectives-based inflation-plus fund which is also available to retail investors.

Co-founder and principal, Tamar Hamlyn, said the firm predicts significant increases on the current rate of inflation over most investment horizons, with concerns for long-term inflation given the international adoption of quantitative easing and the potential for reprioritising of inflation at a global policy level.

“Inflation over a long-term time frame would be extremely damaging for investors. However, the current subdued demand for inflation protection following the GFC, together with increased issuance of inflation linked bonds by Commonwealth and State governments, has created an opportunity to obtain inflation protection at extremely cheap levels relative to history,” he said.

The firm’s sound investment philosophy and consistent approach to risk-controlled investing has led to measured and consistent returns since inception of the business in 2009.

“Ardea was formed on a strategy which sees a longer-term approach to investments and one whereby portfolio diversification is critical to achieving sustainable investor returns.

“As a boutique, we always seek to deliver better value for clients and are very proud of the business and its performance over the past five years,” he said.

Mr Hamlyn, along with Ardea co-founders Ben Alexander, Andrew Bartlett and Stephen Clout, have also expanded its resourcing capability in response to growth in the firm’s investor base with the addition of portfolio analyst, Cameron Shaw. Prior to joining Ardea, Mr Shaw was head of performance and risk analytics at UK-based asset manager Ashmore, and was previously head of investment analytics at Challenger.

The Ardea Australian Inflation Linked Bond Fund has returned 9.76% p.a. over three years to 31 May 2014. Over the same period the UBS Government Inflation Index returned 7.96% p.a.

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90 West reached $250M funds under management.

Specialist Australian natural resources investment management firm 90 West Asset Management (90 West) yesterday announced that funds under management (FUM) has exceeded $250 million for the first time. 90 West has two funds open to investors; the Global Natural Resources Fund (a long only fund) and the Global Basic Material Fund (a long-short fund).

Clive Landale, Managing Director, 90 West, said the funds are performing strongly and attracting strong interest from family offices, retail and wholesale markets.

“Our core belief is that a global investment approach focused on high quality mining, energy and agricultural assets, combined with specialist natural resources investment and industry expertise, is the key to superior long-term investment returns in the natural resources sector. This single-minded approach has appealed to our investors and we are witnessing robust interest in the funds. At the wholesale end, we are seeing growing interest in global sector specialists.”

“The Global Natural Resources Fund is attracting interest from retail and wholesale markets. We received a favourable rating from van Eyk earlier this year, which has helped in making this fund more accessible on platforms. We are working to extend this availability and hope to have further announcements in this regard in the coming months. Our association with Henderson Global Investors has also been positively viewed by the market.”

In April 2013, Henderson Global Investors took a 33 percent stake in 90 West Asset Management. The two businesses are working closely together to increase the distribution of their respective businesses and tap into new local and offshore markets.

David Whitten, Executive Chairman and portfolio manager, said exceptional opportunities are still to be found in global natural resources.

“We are pleased with the outcome from our global investment approach that focuses on quality natural resource companies across agriculture, energy and mining. This growing asset class makes up approximately 24 percent of the globe’s total listed equities. The continued and immense population growth of emerging economies and their desire for better living conditions, will drive growth in a range of resource sectors over the next 30 years.”

Mr Whitten said investors have shown a keen interest in the Global Natural Resources Fund and that the Fund was delivering well above benchmark returns.

“We are very pleased with the performance of the Fund. The annualised 16.12% net return from inception (July 2012) to the end of September 2013 was 3.87% p.a. above benchmark.”

The 90 West Global Natural Resources Fund seeks to achieve long-term capital appreciation by investing in a

portfolio of global natural resource companies operating in the mining, energy and agriculture natural resource

sectors and across the upstream, midstream and downstream segments of the natural resources utilisation

chain.

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