Australian asset manager brings flagship fund to UK investors

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Australian asset manager Antipodes Partners has set up a Ucits version of its long/short global equity fund for UK and European investors.

The Antipodes Global Fund – Ucits was launched with $125m of cornerstone assets.

Antipodes has also opened a London office run by senior investment analyst Chris Connolly with plans to make more hires in the coming months.

The original fund has returned 28.9 per cent since inception two years ago, compared to 14.4 per cent in the MSCI AC World Net Index.

It currently has its largest net allocations to developed Asia, developing Asia and Western Europe – with a minor net long to the US.

However, CIO Jacob Mitchell warns markets currently suffer a false sense of security as investors confuse the low volatility environment with low risk and that pressure to normalise interest rates or withdraw stimulus is likely to trigger volatility and widen credit spreads.

“We are avoiding expensive versions of the bond proxies as long investments, accumulating selective opportunities that have suffered the most from yield curve compression – while increasing our shorts on the beneficiaries of the low rate world.”