Ann: Strategic re-positioning of Australian Subsi, page-2

re: Ann: Strategic re-positioning of Australi... About time that they got off their backside and did something locally. For how long did they thing they could hibernate in Australia whilst still taking home a nice pay cheque.

Having said that, let's hope they have the nous to do this profitably...retail distribution is an expensive game, and traditional products throw off much skinnier margins and long payback periods relative to hedge funds. If they don't get the institutional piece working, then this strategy will burn cash for a while.


http://www.financialstandard.com.au/news/view/29256/

HFA renames to CERTITUDE Global Investments

Monday, 12 July 2010 12:50pm

HFA Asset Management is rebranding to CERTITUDE Global Investments as the business repositions itself as a multi-asset active manager.

The CERTITUDE brand will replace the HFA Asset Management name across its product marketing and branding in Australia, however, the HFA brand will remain on existing funds.

The fund manager will keep its expertise in absolute returns and multi-manager products but will source other products across different asset classes from its sister business, Lighthouse Partners, which provides hedge fund products globally.

Craig Mowll, chief executive at CERTITUDE, said the new name reflected the fund manager's move to become a provider of a range of active management strategies.

"Absolute return funds have been a big part of our DNA for more than 10 years but business can't remain static, they have to evolve," he said.

"We're looking to bring to market highly liquid and transparent including international equities, fixed income and property."

The active funds management group is also expanding its client-base beyond traditional IFA-sourced retail investors to institutional and high net worth investors.

CERTITUDE is negotiating a distribution agreement with a leading European-based asset manager to provide the manager's products to Australian investors.

"We're looking to bring to market that is more equity-driven, more market segment," said Mowll.

The name change will take effect next month.

HFA Asset Management is the international fund manager holding of HFA Holdings, which owns part of Lighthouse Partners.

HFA Holdings' local share price fell more than 7 per cent in early morning trade following the announcement to 17 cents while the broader market was up nearly a quarter of a per cent.




Michael Hobbs