Australian Manager to Create Fourth Equity-based Fund

October 9th, 2009
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Australian hedge fund manager K2 Asset Management announced its plans to add a new high-alpha global equities fund to the firm’s existing Australia and New Zealand, Asia-Pacific, and international equities funds. The new long-short fund will seek to benefit from the recent international stock market rally as it begins to impact smaller companies and is targeted at investors willing to trade higher liquidity risk for potentially higher long-term returns. According to Bloomberg, all three of K2’s funds have significantly increased their long bets since January, and the assets of the whole firm have nearly quadrupled since the beginning of this year. CIO and co-founder Mark Newman, who will manage the global equities fund, stated that the fund will focus geographically on Australia, North America, Asia and Europe, and may use leverage in order to increase returns. K2 Asset Management, headquartered in Melbourne, currently oversees approximately $650 million in assets and was founded by Mr. Newman and Campbell Neal in 1999.
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Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

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