Bloomberg – K2 Asset Management Ltd., a listed Australian hedge-fund firm managing about $650 million in assets, is planning to start a global equities fund that seeks to profit as the worldwide stock market rally spreads to smaller companies.
The Melbourne-based firm aims to start the fund, its fourth equities-related offering, with A$5 million (A$4.5 million) to A$10 million by the end of the year, Chief Investment Officer Mark Newman said in an interview in Melbourne yesterday. The long-short fund will target annual returns of between 15 percent and 20 percent and aims to attract up to A$100 million by the end of its first year.
