HFA Holdings (HFA) has surpassed the $3.8 billion mark in funds under management (FUM) after completing the latest capital rising in its Octane series.
HFA had previously forecast FUM of approximately $3.7 billion at 30 June 2007, which was upgraded from the company's 2006 prospectus forecast of $3.56 billion.
HFA's most recent capital protected product offering HFA Octane Global closed last week raising in excess of $350 million. Once leveraged, the fund will provide HFA with about $516 million in additional assets under management.
"This growth is a reward for HFA's program of continuous development and enhancement of our funds to provide greater investor choice and new and exciting structured investments," HFA chief executive Paul Jensen said.
HFA head of distribution Oscar Martinis said the success of the Octane Global offer was based on the structure of the product which utilises the performance of two complementary investment approaches with the security of capital protection.
"Investors jumped at the opportunity to gain leverage exposure to one of the world's leading long/short absolute return funds as well as Asian, European and US equity markets while retaining the confidence of a capital protection mechanism," Martinis said.
The increased FUM does not affect previously advised full-year guidance for net profit after tax which is expected to be at least $17.5 million.
The Octane Global funds are managed by HFA Asset Management, a wholly-owned subsidiary of HFA Holdings.
