Titan puts in a strong performance

Macquarie says that its recent Titan fund offer raised more than $70 million from New Zealand investors making it the largest ever capital protected fund offering in this country.

Macquarie Bank associate director Jonathan Hall says the company only budgeted to raise $50 million in New Zealand.

Titan is a capital protected, hedge fund that invests in a number of other funds. While it has similarities to some other capital protected offerings, it had some unique features including an optional loan facility which allowed people to borrow 100% of the money they put into Titan.

Hall says he has been encouraged by the response from retail and institutional investors.

"The Titan Trust is the third fund of hedge funds offering to be launched by Macquarie.

"We are tailoring alternative asset fund solutions to investors in a number of countries, with our structuring and risk management capabilities at the core of the business."

Hall says the offering bodes well for future offerings.

"There is a growing recognition in the market of the importance of diversification into this type of investment to try and improve overall portfolio risk-adjusted returns, while retaining the comfort of capital protection."

Titan is a closed fund with a timeframe of six years.

Macquarie's closest competitor in this area, OM Strategic, has in the past fortnight rolled out its latest OM-IP hedge fund.

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