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Monthly Archives: September 2014
Feng Hsiung, formerly Asia CEO of York Capital Management, is setting up his own hedge fund firm, Acion Partners, in Hong Kong. Acion is understood to be planning to start a pan-Asia event-driven hedge fund in the beginning of 2015. KKR is backing the launch of the new firm. Hsiung, who until recently managed the York Asian Opportunities fund, was earlier at Citadel, Goldman Sachs and McKinsey.
Neil Newman has joined GaveKal’s GK Plus Alpha team as an analyst. Newman has had a long career in financial services at firms such as Senrigan, MF Global, BTIG, Oppenheimer, Mirabaud, Louis Capital Markets, Mizuho and many more. He is, however, probably best known for playing guitar in Hong Kong rock band Mr. Happy.
Roy Glantz has retired from Millennium Capital Management in Tokyo where he was its representative director. Earlier in his career Glantz was with Bear Stearns Asset Management and Citadel Investment Group.
James Hughes is joining Gottex as a managing director in October. He was previously CIO for HSBC Insurance stationed in London and Hong Kong.
Following the successful launch of the Counterpoint Asian Macro Fund, managed by former Ballingal PM Geoffrey Barker, City Financial now plans to expand its Hong Kong presence with more funds and staff. It currently employs nine people in Hong Kong.
Industry veteran Julius Wang in Hong Kong has left Samena Capital for what looks like a more flexible working life focusing on special situations as well as advising family offices on investments. Earlier in his career, Julius was at Vision Investment Management, Ritchie Capital Management, Search Investment Group and the Boston Consulting Group.
Singapore-based Japanese hedge fund firm MAM has made a rare challenge of a Japanese regulator’s accusation of insider trading. MAM’s challenge follows an earlier challenge by another Japanese hedge fund manager, Stats Investment Management.
Deborah Lee is reportedly leaving her cap intro gig at Credit Suisse in Asia. She is being replaced by Nomura’s Aditi Velakacharla. Deborah was earlier at Goldman Sachs, Morgan Stanley and Channel Capital Group. Next destination unknown.
Asia ex-Japan hedge funds are outperforming their global peers yet again and are up 7.26% year-to-date, according to Eurekahedge.
The Hong Kong Jockey Club, HK’s horse-racing operator, has increased its allocation to alternative investments in the past year. Following a 34% increase this year in its alternative investments allocation, it now has about US$1.6bn invested, including investments with Och-Ziff and Millennium Management. The figures include holdings by its pension fund and charities trust.