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Global private market investments have delivered proven benefits for client portfolios including diversification, reduced volatility and increased returns. For this reason, leading institutional investors have been large allocators with Australia’s top 10 performing institutional superannuation funds showing an average allocation to global private markets of 29% as at 31 March 2023.
As portfolio management practices continue to evolve, private market investments offer financial advisors a means of staying contemporary and relevant to expanding client demands (e.g. desire for new sources of returns outside of public markets).
In spite of many benefits, private market investments present a number of challenges for advisors seeking to efficiently serve client demands. This includes client eligibility, implementation considerations (i.e. fees, tax and platforms), investment complexity (relative to public markets) and compliance headaches (e.g. lack of third-party research, inability to offer consistency across clientele).
Spire Capital has worked in collaboration with advisor clients to create an implemented solution to offer clients a sophisticated private markets investment that is offered via a PDS, on platforms with third-party research (SQM Favorable Rating).
The Spire Global Private Markets Portfolio (AUD) (“Fund”) employs a global relative value approach across private equity, private debt and real assets to identify the most attractive deployment opportunities through time. Specialist managers are carefully selected to execute fund and co-investments. The Fund targets a net 10-13% over rolling 5-year periods with low volatility.
The Fund enables Spire Clients to take advantage of a proliferation of private market investment opportunities in a risk-aware manner and to ‘club together’ to create scale for accessing the world’s leading private markets managers and assets on
preferred terms. The Fund is evergreen, with monthly liquidity (subject to the limitations described in the PDS) and accessible to all clients (retail and wholesale) so able to be embedded into the advice process.