Watermark fund gets AMP approval

AMP Advice Research has completed its review of Watermark Fund Management's market neutral trust, effectively clearing the way for AMP advisers to recommend the fund.

Commenting on the announcement, Watermark chief operating officer Tim Bolger said finding sources of genuinely uncorrelated returns is "increasingly difficult" for advisers.

"Our market neutral trust provides a portfolio construction tool for planners that offers attractive returns while materially reducing share market beta," Mr Bolger said.

"Approval of the fund by AMP Advice Research is indicative of a broader acceptance from the financial planning community, of the benefits that hedge fund strategies offer.

"Our local hedge fund industry is home to some of the most talented investment managers in the world, providing advisers with a range of appealing fund solutions for their clients."