HEDGE FUNDS – AUSTRALIA

Fund urges BHP board overhaul

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 1 & 14 : 5-May-17

The Tribeca Global Natural Resources Fund has outlined a four-point plan for BHP Billiton. Tribeca says BHP should use the retirement of chairman Jac Nasser to pursue boardroom renewal. It argues that the current board has overseen the loss of some $US30bn of shareholder wealth, adding that this could have topped $US80bn if more mergers and acquisitions had gone ahead. Tribeca favours retention of BHP’s dual listing, although it supports Elliott Associates’ proposal for BHP to offload its US onshore petroleum assets.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, TRIBECA GLOBAL NATURAL RESOURCES FUND, ELLIOTT ASSOCIATES LIMITED PARTNERSHIP, ELLIOTT MANAGEMENT CORPORATION, TRIBECA INVESTMENT PARTNERS PTY LTD

Goodman gets big tick

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Original article by Sue Mitchell, Sarah Thompson
The Australian Financial Review – Page: 19 : 17-Feb-15

Goodman Fielder shareholders will vote on a proposed $A1.3bn takeover bid by Wilmar International and First Pacific on 26 February 2015. Australia’s Foreign Investment Review Board approved the deal in late 2014, and the Chinese Government gave the green light on 16 February. The offer of $A0.675 per share also requires approval in New Zealand. Hedge funds bought about 160 million of the target’s shares in early February, and stand to make a healthy profit from the transaction

CORPORATES
GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CHINA. MINISTRY OF COMMERCE, NEW ZEALAND. OVERSEAS INVESTMENT COMMISSION, ELLERSTON CAPITAL PTY LTD, DEUTSCHE BANK AG, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Local hedge funds better than ASX, global peers

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Original article by Bianca Hartge-Hazelman
The Australian Financial Review – Page: 25 : 6-Nov-14

Australian hedge funds achieved an average return of 4.3 per cent in the first nine months of 2014, according to Australian Fund Monitors. The firm also notes that 63 per cent of these funds outperformed the S&P/ASX 200 Index, while 95 per cent did so in September, when the market fell sharply. Local hedge funds have also outperformed their global counterparts, with the Bloomberg Global Aggregate Hedge Fund Index achieving a return of 2.3 per cent

CORPORATES
AUSTRALIAN FUND MONITORS PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX 200 ACCUMULATION INDEX, BLOOMBERG GLOBAL AGGREGATE HEDGE FUND INDEX, STANDARD AND POOR’S 500 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, REGAL FUNDS MANAGEMENT PTY LTD, MORNINGSTAR PTY LTD

Hedge funds chase self-managed super billions

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Original article by Jonathan Shapiro, Gretchen Friemann
The Australian Financial Review – Page: 1 & 12 : 10-Sep-14

There is growing interest in listed investment companies (LICs) in Australia, and hedge funds believe that these investment vehicles may allow them to attract capital from self-managed superannuation funds. Ellerston Capital and Global Wealth Partners are among the hedge funds that have launched investment vehicles that are modelled on LICs. It is estimated that SMSFs now hold some $A550bn

CORPORATES
ELLERSTON CAPITAL PTY LTD, GLOBAL WEALTH PARTNERS FUND LIMITED – ASX GWP, WHITEHAVEN FUNDS, ZG ADVISORS PTY LTD, BLUE SKY CAPITAL INVESTMENTS LIMITED, PERSHING SQUARE CAPITAL MANAGEMENT LP, RF CAPITAL PTY LTD