New Zealand’s Hedge Fund Managers Weathered The Financial Crisis Best

Written by admin on April 16th, 2011

Opalesque, the world’s largest subscription-based publisher covering the alternative investment industry, has launched the 29th issue in a series of regional roundtable forums- Opalesque 2010 New Zealand Roundtable. The 27 page Roundtable can be downloaded for free at

Two years after launching the Opalesque Roundtable Series in 2008 in Auckland, Opalesque founder Matthias Knab traveled back to the “other end of the world” (another 11 hours flight from Hong Kong…) looking for answers and the latest trends. There, a diverse group of hedge fund managers and CTAs were able to buck the global downtrend and instead cranked out a positive return of +20.4% (as measured by the Ernst & Young New Zealand Absolute Return Index) in 2008 – the year the MSCI World tanked over -40%, erasing trn of shareholders’ wealth. In 2009, the NZARA Index, which was created in conjunction with the New Zealand Absolute Return Association (NZARA), was up +17.5%.

What is behind the clear outperformance of the New Zealanders?

As the average global hedge fund was down around -20% in 2008, the question that needs to be answered is: what is behind that clear outperformance of the New Zealanders?

And which strategies help the New Zealanders to build their asset base? Some of these managers have also set up offices in London, but why are they now “seriously questioning our commitment to being in Europe” and pondering moves to Singapore?

In this Roundtable, Neil Williams, General Manager Public Markets of the New Zealand Superannuation Fund, explains what this government pension fund thinks about hedge funds and how they are used.

Philip Crotty, Managing Director of New Zealand Assets Management believes it is a very good idea for global hedge funds to include Australasian investors in their client mix, as they “generally take a long-term view of their investments and do not redeem whenever there is turmoil in the markets.”

The Opalesque 2010 New Zealand Roundtable had the following participants:

Neil Williams, General Manager Public Markets, New Zealand Superannuation Fund
Anthony Limbrick, Chief Investment Officer, Pure Capital
Charles Drace, Founder, Socrates Fund Management
Jeremy Muir, Senior Associate, Minter Ellison Rudd Watts
Mark Brighouse, Managing Director, Brook Asset Management
Mark Sleeman, Founder, MS Capital Management
Michael Gibbs-Harris, Founder, MGH Asset Management
Mike Taylor, Founder, Pie Funds
Peter Lawson, Counsel, Ogier
Philip Crotty, Managing Director, New Zealand Assets Management Asia

The Roundtable was made possible by Pure Capital, who sponsored this Opalesque Roundtable, law firm Minter Ellison Rudd Watts who provided the Auckland meeting venue, and Custom House Group and Taussig Capital as the 2010 Opalesque Roundtable Series sponsors. Matthias Knab, founder of Opalesque and internationally recognized expert on hedge funds and alternatives, moderates the Opalesque Roundtables.

The Roundable can be downloaded for free at

All other previously published Opalesque Roundtable Scripts can be accessed here:

About Opalesque:

In 2003, with the publication of its daily Alternative Market Briefing, Opalesque successfully launched an information revolution in the hedge fund media space: “Opalesque changed the world by bringing transparency where there was opacity and by delivering an accurate professional reporting service.” – Nigel Blanchard, Culross. This hybrid financial news service, which combines proprietary industry news stories and filtered third party reports, has been credited by many industry insiders with delivering precise, accurate, and vital information to a notoriously guarded audience.

Each week, Opalesque sends out over 650,000 editions of its eleven publications to a global readership in over 170 countries. Opalesque is the only daily hedge fund publisher which is actually read by the elite managers themselves (

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