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Blue Sky Alternatives Access Fund Limited

Fund Manager: Blue Sky
Inception Date: Jun 01, 2014

Pinnacle drops fees in Blue Sky fund bid

Financial Standard - Nov 05, 2018

Pinnacle has knocked off performance fees from its bid to manage the Blue Sky Alternatives Access Fund, bringing it in line with Wilson Asset Management's bid, according to LIC's directors. The two managers have put in proposals to gain the management of the listed investment company that has traded at a discount to its NTA, as it separates from its current manager Blue Sky Alternative Investments Limited (BLA). Aware Water Group has also made a proposal to acquire BAF's interest in Blue Sky Water Fund. [More]

Wilson Asset Management chairman Geoff Wilson says support from his 80,000-strong investor base could help grow Blue Sky's $228.2 million hedge fund, Blue Sky Alternatives Access Fund.  Mr Wilson will meet with the fund's manager, Blue Sky Alternative Investments, on Thursday as he seeks to gain support for his firm's proposal to manage the listed hedge fund.  If successful, it would be Wilson Asset Management's first foray into alternative assets, joining the WAM stable alongside more than $3 billion in funds that own Australian and global equities.  [More]

New Pinnacle affiliate to manage Blue Sky LIC

Financial Standard - Oct 18, 2018

Ian Macoun's multi-boutique house has launched a new affiliate that will manage the Blue Sky Alternatives Access Fund (BAF) as it separates from Blue Sky Investments (BLA). With the bifurcation announced this morning, BLA will target an institutional investor base while BAF will target retail investors. [More]

Blue Sky Alternative Investments has announced a formal split from its associated listed investment company the $180 million Blue Sky Alternative Access Fund (BAF), as foreshadowed by Street Talk. It comes after shares in BAF were placed into a trading halt on Wednesday.  Since the collapse in Blue Sky's share price which led to a $50 million capital injection from US alternative asset manager Oaktree, the troubled Brisbane-based fund manager has made several board changes aimed at making BAF a more independent entity. [More]

Short-seller Glaucus has claimed another scalp in the bitter war with target Blue Sky Alternative Investments after Blue Sky exited its childcare business at up to a 23 per cent discount to carrying value. The sale was disclosed by Blue Sky's listed investment company, which is a co-investor in Foundation Early Learning. Childcare is one of the areas where Blue Sky asserted Glaucus had got it wildly wrong when the hedge fund wrote in its short thesis that the childcare business was more than 10 times leveraged, "looks closer to financial calamity than a successful investment" and has "little chance of being sold anywhere close to its current mark". [More]

Blue Sky suspended from ASX after Glaucus attack

The Australian - Apr 03, 2018

Brisbane-based funds manager Blue Sky Alternative Investments, which is under attack by US short sellers Glaucus Research, has been suspended from the stock exchange. Blue Sky (BLA) today asked the ASX for the suspension “to enable the ASX to complete its review of the proposed response the company has provided”. The company had promised to publish a response to a stinging report issued by Glaucus last Wednesday before trade opened this morning. In its report, which sent Blue Sky stock plunging almost 10 per cent in just 43 minutes before trade was halted, Glaucus accused the company of overvaluing its fee-earning assets under management by $2.4 billion, misrepresenting the performance of its funds and fee-gouging fund investors. [More]

Blue Sky Alternative Investments has rejected US hedge fund Glaucus' short thesis on the stock as being riddled with falsehoods after Glaucus claimed the homegrown asset manager's shares were 77 per cent over-valued. The California-based short-seller has targeted Australian asset manager Blue Sky in its second Australian short campaign more than a year after it published a zero-dollar price target on collapsed sandalwood group Quintis. "From its initial review of the report, Blue Sky notes that there are a large number of factual inaccuracies throughout, including the assertions raised in relation to how Blue Sky calculates and reports its fee-earning assets under management, its investment performance and its fees," the company said in a statement after-market on Wednesday. Glaucus's report drove shares of Blue Sky down 9 per cent to $10.40, wiping $80 million from its market value. [More]

IT SEEMS hardly a week goes by when Blue Sky Alternative Investments doesn’t unveil a stake in a new venture.   Just last week the Brisbane-based group announced that its real estate arm, in a joint venture with Goldman Sachs, had bought a majority stake in The PAD, a student accommodation provider. The PAD will manage the joint venture’s planned $1 billion portfolio accommodating 5000 to 10,000 students in places set to be built across Australia and New Zealand. A few days earlier, Blue Sky revealed it had taken part in a near $20 million financing deal for a US e-commerce company supplying “plus-size’’ fashion to larger women. That followed last month’s announcement that a company in which Blue Sky holds a 38 per cent stake had acquired an office tower in Manhattan for $280 million. Founder and chief executive Mark Sowerby believes the pace of deal-making with small to medium enterprises is indicative of his business “naturally scaling’’ after 10 year of operation this July. [More]

Blue Sky’s looking to invest in fast-movers

The Advertiser - Mar 26, 2016

PRIVATE companies on the cusp of stepping up in size are one of the targets of publicly listed Blue Sky Alternative Investments.   Blue Sky is looking for opportunities for private equity and venture capital money, chairman John Kain said. “It is purely expansion capital,” he said. “We look for businesses which have really good management, are cashflow positive and profitable, enjoy good growth opportunities but need capital to grow further. “We back the management rather than stepping in and running the business.” Some of the companies it has supported included Shoes of Prey, which began as an online retailer where women design their own shoes. [More]

5 listed funds to outperform a falling market

Motley Fool Australia - Feb 16, 2016

With the S&P/ASX 200 now down around 20%, and markets getting cheaper by the day, right now is the best time in a long time to buy stocks. However, it also might be a good time to consider investments that can provide some diversification if stock prices continue to fall. Here are five funds to consider: [More]

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