Hedge fund manager navigates big December-quarter jump
Hedge fund manager Navigator Investments added more than $US1.14 billion to its assets under management during the December quarter.
The company, which is the Brisbane-based parent of alternative American investment manager Lighthouse Investments, said its assets under management jumped to $US13.15 billion during the quarter from $US11.99 billion in September.
On a net basis, inflows were relatively flat at $US20 million, but a strong investment performance saw the AUM jump.
Its diversified fund had a 5.6 per cent increase in December while its long/short fund grew by 6.1 per cent which gave it a 22.3 per cent increase for the year.
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Earlier this week Navigator said the strong December quarter performance meant its performance fee would add $4.5 million to its operating earnings for the half year.
Navigator shares were up 6 per cent in morning trade.
