Salt reopens fund
The fund is currently $115 million and aims to hit returns of OCR plus 5% a year, pledging to provide “equity-like returns over long timeframes” with less volatility and no correlation to the New Zealand and Australian equity markets.
It has until now only been available in a limited way but managing director Matthew Goodson said the time seemed right to reopen it.
"Market-neutral long-short strategies have fallen somewhat out of favour given the backdrop of a bull market for the ages over the last few years. However, performance in the fund has generally been solid over the last six years and has been delivered with far less volatility than long-only equities and with zero correlation to them," he said.
“For those investors who view most asset classes as being very expensive, this lack of correlation has appeal in the context of a diversified portfolio and we have received steady inbound enquiry. This enquiry has been particularly marked when brief periods of market volatility have reminded investors that markets can go down as well as up."
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