Warakirri Asset Management
Website:
www.warakirri.com.au
AGEST and Warakirri
AGEST employs Warakirri to manage a small portion of the fund's assets using an "absolute return strategy". We have invested in the Warakirri Alternative Strategies Fund ("WASF").
Objective and strategy
The objective of an absolute return strategy is to generate consistent, positive returns each year with a low volatility of returns. The investments are usually structured to produce low correlation to equity and fixed interest markets.
The objective of the WASF portfolio is to return (net of fees) 8%pa over a rolling 3 - 5 year period.
WASF is a "fund of funds" which means that it invests in a wide range of different investment managers who use different investment strategies to make money. By combining many managers and investment strategies into the one fund, WASF has a low chance of a negative return in any year.
WASF uses the services of Mesirow Advanced Strategies (based in Chicago, Illinois, USA). Mesirow provides high quality due diligence and investment management expertise to limit downside investment risk in the fund.
The result (WASF) is a professionally constructed and well diversified fund comprising many individual absolute return funds.
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