90 West Asset Management passes $250 FUM Milestone
Solid performance, global partnerships and future prospects attracting strong investor interest
Specialist Australian natural resources investment management firm 90 West Asset Management (90 West) today announced that funds under management (FUM) has exceeded $250 million for the first time.
90 West has two funds open to investors; the Global Natural Resources Fund (a long only fund) and the Global Basic Material Fund (a long-short fund).
Clive Landale, Managing Director, 90 West, said the funds are performing strongly and attracting strong interest from family offices, retail and wholesale markets.
“Our core belief is that a global investment approach focused on high quality mining, energy and agricultural assets, combined with specialist natural resources investment and industry expertise, is the key to superior long-term investment returns in the natural resources sector. This single-minded approach has appealed to our investors and we are witnessing robust interest in the funds. At the wholesale end, we are seeing growing interest in global sector specialists.”
“The Global Natural Resources Fund is attracting interest from retail and wholesale markets. We received a favourable rating from van Eyk earlier this year, which has helped in making this fund more accessible on platforms. We are working to extend this availability and hope to have further announcements in this regard in the coming months. Our association with Henderson Global Investors has also been positively viewed by the market.”
In April 2013, Henderson Global Investors took a 33 percent stake in 90 West Asset Management. The two businesses are working closely together to increase the distribution of their respective businesses and tap into new local and offshore markets.
David Whitten, Executive Chairman and portfolio manager, said exceptional opportunities are still to be found in global natural resources.
“We are pleased with the outcome from our global investment approach that focuses on quality natural resource companies across agriculture, energy and mining. This growing asset class makes up approximately 24 percent of the globe’s total listed equities. The continued and immense population growth of emerging economies and their desire for better living conditions, will drive growth in a range of resource sectors over the next 30 years.”
Mr Whitten said investors have shown a keen interest in the Global Natural Resources Fund and that the Fund was delivering well above benchmark returns.
“We are very pleased with the performance of the Fund. The annualised 16.12% net return from inception (July 2012) to the end of September 2013 was 3.87% p.a. above benchmark.”
The 90 West Global Natural Resources Fund seeks to achieve long-term capital appreciation by investing in a portfolio of global natural resource companies operating in the mining, energy and agriculture natural resource sectors and across the upstream, midstream and downstream segments of the natural resources utilisation chain.