Some Australian managers are finding the conditions highly prospective, unlike what you mention for the average Australian equity manager. For example, event driven market neutral manager Harvest Lane does not depend on the vagaries of central bankers 180 degree policy turns. They had a fantastic year in 2018 when all others wilted (they made double digit returns - including making money through the devastating October to December quarter) and are highly enthused by their future prospects. Furthermore, Harvest Lane don't earn any fees for themselves unless they make clients absolute returns > cash. Given the environment, having a genuinely aligned manager makes a lot of sense and I for one believe is worth supporting.
Hi Jerome. We couldn't meet with every manager from all asset classes in such a short period so thanks for highlighting this manager.