The fund, which is described as an absolute return strategy for high-net-worth (HNW) investors, is custom-designed and managed by Blackstone Multi-Asset Investing (BXMA).
It is said to be a first for the Australian HNW market and is available exclusively to ANZ Private clients.
ANZ Private chief investment officer (CIO) Lakshman Anantakrishnan, said: “The strategy culminates a broader change to ANZ Private’s strategic asset allocation, which includes a doubling of our allocation to alternative assets.”
The move towards alternatives is expected to shield client portfolios from what Anantakrishnan expects will be an increasingly volatile environment.
“In the decade ahead, we expect global markets to be transformed by major structural themes including disruptive technology, global demographics, and the green energy transition. We believe hedge funds will play an increasingly important role in multi-asset portfolios as investors look to navigate this change,” he said.
“Only a few global firms have the reach and scale to access the right alternative opportunities. The name Blackstone is synonymous with alternative investing, and we are delighted to bring a truly world-class, unique, and exclusive offering to our clients.”
ANZ confirmed that the strategy will be overseen by global head of BXMA Joe Dowling and David Ben-Ur, chief investment officer of BXMA’s Absolute Return platform.
“We are delighted to work with ANZ to build a customised absolute return fund to help ANZ’s high-net-worth clients construct diversified portfolios. We are committed to creating customised, balanced, and resilient strategies for investors, which can thrive across multiple environments, and we are proud of the platform that we’ve created for ANZ’s clients,” Dowling said.
Specifically, the Graphene Alternative Fund is a quarterly liquid solution that brings Blackstone’s proprietary BXMA Absolute Return platform to ANZ’s clients, including access to capacity constrained funds that are typically reserved for institutional mandates.
