The country’s second-largest pension fund is building a new hedge fund-style equities desk as it seeks to invest more directly in the Australian sharemarket and access deals at a far cheaper rate than if it left trades to its predominantly passive index-tracking strategies.
Australian Retirement Trust – a $370 billion pension fund with about one quarter of its portfolio exposed to local shares – has hired a trio of high-profile traders to run its new equity capital markets’ desk, headlined by the former Jarden investment banking head Dane Fitzgibbon.
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