BLUE SKY OUTSHINES ASSETS UNDER MANAGEMENT TARGET
Written on the 2 May 2014 by Karen Rickert
BLUE Sky Alternative Investments Limited (ASX:BLA) has exceeded its target of $500 million in assets under management by June 30, with time to spare.
The fund manager’s assets under management (AUM) is now north of $550 million, with its four divisions of private equity, private real estate, hedge funds and real assets all experiencing growth.
Founder and managing director Mark Sowerby (pictured) says there is a lot of interest and increased allocations into alternatives.
“Rainmaker Group, a big data collector in the funds management space, just put out a report that alternatives have increased over the last 15 years in Australia from five per cent to 14 – and the forecast will be at 20 in six or seven years.
“I think those increased allocations are flowing through to the things we do and we’re making people money and that’s our job,” he says.
The achievement follows the company’s acquisition of all shares in Investment Science Pty Ltd of $70 million in AUM on April 30.
“I think it’s fair to say we were going to get there early anyway. Where Investment Science sits well is that it really gives us a great range of products in the hedge fund space that will help us do a better job of managing alternative asset portfolios going forward.
“They’re a talented team, they’ve got a great track record and I think they’re going to be an important part of our business in the long-term.”
As part of its aggressive growth strategy, Blue Sky has opened an office in Melbourne and announced several key appointments.
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