Macquarie Investment Management, with AUS22 billion (USD11 billion) in assets under management, is preparing to launch a new hedge fund that likely will use over-the-counter derivatives, including interest-rate swaps, equity derivatives and credit default swaps. The asset manager hopes the launch the as-yet unnamed fund in the coming months and expects to use OTC derivatives for hedging and leverage, according to Phil Dolan, head of marketing and product development in Sydney. He declined to speculate on the fund's likely size or comment on its strategy.
Macquarie IM already uses interest-rate swaps, currency derivatives and credit derivatives in other funds, Dolan said, declining to detail specifics. Counterparties include its parent company Macquarie Bank, as well as local and international firms.
