King Tide Asset Management
King Tide Asset Management aims to provide an outstanding investment opportunity by seeking to maximise returns while carefully protecting capital.
We believe that in every area of life there are champions, people who achieve greater heights than others. These people are few and far between. We believe in the superior investor as defined by Howard Marks, “Thus, a low incidence and severity of loss is part of most outstanding investment records.” and “Skilful risk control is the mark of the superior investor.”
As Howard Marks says “There are two kinds of people who lose money: those who know nothing and those who know everything.”
We also prefer performance fee structures which incentivize performance over asset gathering.
We therefore limit our universe to those managers for whom controlling risk is at the front and centre of their investment process and who demonstrate they have the skill and/or tools to enable them to protect capital. This generally includes the ability to short-sell stocks but may also be through the use of derivatives, a high weighting to cash or simply by buying stocks with a high margin of safety.
In addition we minimise manager specific risk by diversify across a number of managers who in turn utilise a variety of investment styles.
The Australian market in particular is extremely dynamic with a high dispersion of stock returns amongst the more than 2,000 listed companies. Included in this number are more than 650 companies with a market capitalization above A$100m, with approximately 100 new companies listing on the Australian Stock Exchange each year.
Add to this a high degree of both foreign and retail ownership and relatively low levels of research coverage and we have a fertile hunting ground in which active managers can generate alpha.
This is one of the prime reasons we prefer to co-invest with boutique managers who focus on performance over gathering assets. These managers often run small funds with flexible mandates – that assists them to protect capital – and who invest a meaningful amount of their personal wealth alongside us.
King Tide’s Background
- Founded in 2011, King Tide Asset Management is a New Zealand based alternative investment manager for wholesale and institutional investors.
- The King Tide NZ/Australian Long/Short Equity Fund invests in Australian and New Zealand domiciled equity funds. The fund offers professional manager selection, robust portfolio construction, better risk monitoring, thorough and cost-effective due diligence, broad diversification, and access to some of the world’s best equity managers.
- King Tide Asset Management is majority owned by its directors who are also amongst the largest investors in the fund.
King Tide’s Directors
Mark is the co-founder, shareholder and director of King Tide Asset Management. Mark also owns Saxe-Coburg Limited, which manages private client portfolios for NZ investors. Mark has more than 27 years experience in this role and has been allocating capital to absolute return managers since 1991. Mark has always believed that financial products are generally created with the issuers interests in mind rather than the investors, and so, when putting King Tide together, Mark has ensured that investor interests are first and foremost.
Rob Campbell has over 30 years’ experience in investment management and corporate governance. Currently Chair of Tourism Holdings, Summerset Group Holdings , WEL Energy/UltraFast Fibre , SkyCity Entertainment and a director of Precinct Properties. Rob is also a director of or advisor to a number of hedge and private equity funds in a number of countries including Silverfern Co-Investment Partners (US) and Board Member, Serica Balanced Credit Fund (HK). Rob holds the degrees of Bachelor of Arts with First Class Honours in Economic History and Political Science and of Master of Philosophy in Economics.
Geoff moved back to New Zealand in 2013 after 25 years in USA. He mentored full-time at the Lightning Lab accelerator soon after arriving back and then joined LearnKo as a co-founder and Chairman. He has since joined several advisory boards and mentor several start-ups and joined the Morgan Foundation think tank in September 2014 to investigate the area of education in New Zealand. Born in Timaru, New Zealand, educated at Timaru Boys High with Masters of Commerce hons from University of Canterbury. Geoff spent 5 years travelling, including a year with the Old Mutual in South Africa where he discovered the stock-market.