Hedge Funds Club
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Dragon Talk
Greater China-related hedge fund industry news.
Greater China-related hedge fund industry news.
28 Jul 2010
Enzio von Pfeil (ex-ABN AMRO, Clarion Capital, SG Warburg, Smith New Court) and Kai-Rupert Nolte
(ex-HSBC, Deutsche Bank, Standard Chartered Bank) have launched The Economic Time Bond Fund,
a new fixed income long/short fund in Hong Kong.
China Investment Corporation (CIC), the sovereign wealth fund with US$300 billion in AUM,
announced it is on a recruitment drive for 64 positions, including hedge fund-related investment jobs.
Jennifer Carver and Brian MacDougall have left 3A Asia, the Hong Kong-based alternative asset
management business of Syz & Co. Daniel Ghirardi (ex-Harcourt, Pioneer, UBS) has been appointed
Syz & Co's new CEO in Asia.
Trivest Advisors launched a Chinese equity long/short fund on 1 July. Wu Huimin (ex-State Street
Global Advisors, Prime Capital Management/Dragon Billion Greater China Fund), Xue Lan (ex-Citi,
Merrill Lynch) and Sun Lu (ex-Indus Capital Global Advisors, Lehman Brothers) are the partners
behind the fund.
23 Jul 2010
Ken Lu (ex-APAC Capital) and Evan Erlanson (ex-Bear Stearns) will launch a pan-Asia equity
long/short fund as a JV between Seres Asset Management and Unity Investments.
Hong Kong-based Gen2 Partners has recruited Xavier Fanjaud from Infiniti Capital. He is believed to
be bringing with him the FoFs he ran for Infiniti to Gen2.
Value Partners’ Deputy CEO, Eugene Law, has left the firm.
Janice Tang, Highbridge’s Director of Client Relations in Asia, has left the firm.
19 Jul 2010
Ben Horner (ex-Cranmore, Elliott) has joined the prime brokerage division of UBS in Hong Kong.
Additionally, Cheryl Lau (ex-Hillhouse, Value Partners, Goldman Sachs) is joining UBS in a cap intro
role while Tamera Hodges is relocating to Hong Kong from London to head up prime brokerage sales
in Asia.
16 Jul 2010
Mark Valado, executive director at Value Partners Group’s Sensible Asset Management, has left the
firm for a new senior management position in Hong Kong’s investment industry.
Alex Ng has left Superfund in Hong Kong to join Reliance Asset Management in Singapore in a sales
role.
HSBC is trying to launch an Asian prime brokerage. It has recently hired Matt Kiraly (ex-Citi, Bear
Stearns, Nikko Alternative AM) and Lauren Degney (ex-Citi) to join its equity finance team.
13 Jul 2010
Hong Kong-based Value Partners, with US$5.7bn in AUM, is now the biggest hedge fund
management firm in Asia according to Asia Hedge Fund 25, Institutional Investor’s ranking of the
largest Asia-based hedge fund managers. As of 1 April, the firms in the Asia Hedge Fund 25
managed a combined US$36.1bn. Tokyo-based Sparx Group was number two on the list while
Singapore-based Arisaig Partners was number three, Beijing-based Hillhouse Capital Management
number four and Tokyo-based Bayview Asset Management came in fifth.
9 Jul 2010
HSBC’s financial institutions group has hired Melvyn Ford (ex-Merrill Lynch) to head hedge-fund
coverage in Asia.
5 Jul 2010
John Ho (ex-TCI) has raised over US$100m for his new fund, the Janchor Partners Pan Asian Fund.
Jeff Fisher has resigned from RAB Capital in Hong Kong. He is understood to be joining Fortress to
relaunch their Hong Kong office.
28 Jun 2010
London-headquartered RAB Capital has hired David Seex (ex-Citi Alternative Investments) as CEO
of Asia. He will be based in Hong Kong.
26 Jun 2010
Boyer Allan has launched a UCITS-compliant fund, the MLIS Boyer Allan Asian Long Short Fund, on
the Merrill Lynch platform.
24 Jun 2010
UBS is boosting its Asian prime brokerage by relocating Ashley Jarvis and Tamera Hodges from
London to Hong Kong.
23 Jun 2010
Chongyang Investment Management, a deep-value onshore fund manager in China, has launched a
China equity long/short fund in Hong Kong.
WIM Asset Management in Hong Kong has launched the WIM Sustainable SRI Master Fund, a
Greater China equity long/short strategy with a macro overlay.
Shanghai-based Sunpo Capital Management, managed by Yi Zhang (ex-Dynasty Asset
Management) and Dennis Yang, plans to open its new Greater China equity long/short fund to
external investors.
17 Jun 2010
High-net-worth individuals in Asia-Pacific will boost their investment allocation to alternative
investments in the next two years, according to a survey from Datamonitor.
15 Jun 2010
Hong Kong-based Mark Devonshire will finally launch his mCapital European and Asian Special
Situations Fund following several delays. mCapital has secured an anchor investment deal from
IMQubator.
New York-based quant prop trading firm Jane Street Capital is expanding in Hong Kong.
Hong Kong-based China-focused fund manager Galaxy Asset Management is launching a new
UCITS China fund together with Merchant Capital.
11 Jun 2010
Millennium Management, the US-headquartered US$7.3 billion hedge fund manager, has appointed
Kunho Cho (ex-Lehman Brothers) as chairman for its Asian business. Millennium employs about 70
staff in Asia spread across Tokyo, Hong Kong, Singapore and Beijing.
7 Jun 2010
Jonas Palsson has been appointed as head of Eton Park Capital Management's Asia business based
in Hong Kong. He replaces Barbara Yu who has left the firm.
Hong Kong-based ADM Capital, a US$1.7 billion Asian distressed hedge fund manager, plans to
open offices in Kazakhstan and Ukraine. It is looking for investment opportunities in the former
Soviet Union.
4 Jun 2010
Thomas DuCharme (ex-Deutsche Bank) has been appointed as CEO of J.P. Morgan's Asian Treasury
and Security Services business.
3 Jun 2010
Go-To-Asia Investment is understood to have closed down its Hong Kong-based hedge fund.
Einoshin Arima and Giselle Leung have left the firm following the shutdown of the fund.
2 Jun 2010
David Frick and Lily Chai have left SAIL Advisors.
Adam Wallace has been appointed head of J.P. Morgan’s hedge fund administration services in Asia.
He is based in Hong Kong.
Lena Wong has left her job as Sales Director at Value Partners.
JT Capital Management in Hong Kong is planning to launch a China-focused hedge fund. Larry
Zhang, formerly an advisor to China's state pension fund, has teamed up with Kurt Baker, formerly
head of Morgan Stanley's Asian prime brokerage, to launch the new firm. The firm is also planning
to open an office in Beijing.
1 Jun 2010
Portfolio manager Terence Lim has left Hong Kong-based Sofaer Capital and rejoined Goldman
Sachs to head up asset management sales in Korea.
26 May 2010
Imperia Investment Group plans to launch the Imperia Asia Offshore Fund, an event-driven
strategy. Imperia also plans to open a Hong Kong office and has hired Amy Zhang (ex-Blackstone,
SAC) to run the new office and manage the Greater China investments for the new pan-Asia fund.
21 May 2010
US$6 billion multi-strategy hedge fund manager CQS has been named Asset Manager of the Year --
Alternative Investments at the AsianInvestor 2010 Investment Performance Awards. US$300bn+
China Investment Corporation was named Institutional Investor of the Year.
19 May 2010
Alexis Fosler, formerly of Citi’s prime brokerage unit in Singapore, has joined Omnium, Citadel’s
fund-administration business. She is based in Hong Kong and will be in charge of sales in Asia.
US$800m Boyer Allan Investment Management is setting up the Boyer Allan Asian Long Short UCITS
in June.
Patrick Hugh (ex-CLSA, Chirin Capital, Altai Capital) is launching a new Asia equity macro fund with
his new firm Argun River Asset Management. Argun has been seeded by Penjing.
New York-based US$400m volatility specialist Titan Capital Group is opening an office in Hong Kong
and relocating Kyle Chuang from New York to head up the office.
US$2.5bn New York-headquartered tech and media hedge fund Coatue Management, is considering
setting up a presence in Hong Kong or Shanghai. The firm’s founder is Philippe Laffont (ex-Tiger).
Chris Hsu (ex-Abax Global, Citadel) has set up Kilometre Capital Management in Hong Kong with
seed money from Paloma in the US.
18 May 2010
Hong Kong-based Chater Capital Advisors has set up the Chater Asia-Pacific Event-Driven Fund which
is managed by Kevin Chan (ex-Scoggin Capital Management).
17 May 2010
Leon Hindle and Fredric Teng (both ex-Lehman) have set up Oracle Investment Fund, an Asian
structured credit hedge fund, in Hong Kong.
7 May 2010
The average size of hedge fund launches in Asia in 2009 was US$40m, down from US$80m in 2007,
according to GFIA’s Peter Douglas. 70% of the hedge funds launched in Asia in 2008 and 2009 had
US$50m or less in AUM as of 31 March, 2010.
Fortress, who closed its Hong Kong office last June, has opened a new office in Singapore. It has
also kept its trading office in Tokyo open.
5 May 2010
UBS Asia-Pac capital introduction boss Hugh Abdullah is moving to Morgan Stanley and is bringing
Claudia Kwick with him. They will have pan-Asian roles and be based in Hong Kong.
4 May 2010
James Packer-backed Ellerston Capital has closed its Hong Kong office and moved all of its
operations to Sydney.
30 Apr 2010
Mick Millard, formerly head of UBS’s Australian equities sales desk in New York, has joined Trafalgar
Capital to manage the firm’s new Hong Kong office.
28 April 2010
Citi's prime finance group has appointed eight new executives in Asia Pacific, spread across Hong
Kong, Singapore and Sydney. The five new hires in HK are Simon Ng (ex-HSBC), Dagmar Baeuerle
(ex-Crown Advisors International), Kenneth Leung, Mattan Lurie (ex-CITIC Securities, Hony Capital)
and Becky Yang (ex-Lehman).
27 Apr 2010
Hong Kong-based Myo Capital is launching a new special situations fund with a US$150 million seed
investment from DBS Bank in Singapore. As part of the deal, DBS will get a minority stake in Myo
Capital.
26 Apr 2010
Hong Kong's Securities and Futures Commission has applied to bar Tiger Asia, a New York-based
hedge fund, from trading in Hong Kong. This follows earlier allegations of insider trading against the
firm.
23 Apr 2010
E Fund Management, China's second largest asset manager, has opened a Hong Kong office,
managed by Nathan Lin, and plans to manage alternative investment funds from the new office.
Huimin Wu (ex-Prime Capital, State Street Global Advisors) has set up TriVest Advisors to launch a
China multi-strategy fund. TriVest has offices in Hong Kong and Shanghai.
Fuh Hwa SITE Asset Management in Hong Kong) has launched a China small-cap fund. Don Kan is
portfolio manager of the new fund.
22 Apr 2010
The AsianInvestor 2010 Investment Performance Awards hedge fund winners have been announced.
They include CAI Global Fund (Asia-Pacific), ROCIM Asia Opportunity Fund (Asia ex-Japan), Prowess
of Japan (Japan), Trophy LV (long/short equity), Phalanx Japan-AustralAsia Multi-Strategy Fund
(multi-strategy), Vegasoul Fund (CTA/managed futures), 3DPropCo (distressed/special situations),
Richland Emerging Opportunities Fund (event driven), Ocean Capital China Macro Fund (macro), Brim
Asian Credit Fund (new launch), Dynamic Equity Partners (India), Galaxy China Deep Value Fund
(Greater China) and Centar Investment Group Asia (fixed income/credit).
15 Apr 2010
Lyxor Asset Management has added the Lyxor/Martin Currie China Dragon Fund to its managed
accounts platform. Martin Currie created the fund specifically for the Lyxor platform.
The Hong Kong Monetary Authority will reportedly invest more of its reserves in hedge funds.
14 Apr 2010
Russell Investments has hired Joey Chao-Yu Chen (ex-Morgan Stanley) as a business development
director in Taiwan.
SAIL Advisors, the Hong Kong-based funds of hedge funds arm of the Search Investment Group,
won the Global Multi-Strategy (US$500m-$1bn) category for its Topaz multi-strategies fund at the
annual InvestHedge Fund of Hedge Funds Awards ceremony recently held in New York. SAIL was also
selected as the Best Fund of Hedge Funds House in Hong Kong by Asia Asset Management Best of
the Best Awards.
13 Apr 2010
Dalton Investments, headquartered in Los Angeles, plans to open an office in Shanghai later this
year. It already has a Tokyo office.
5 Apr 2010
Pacific Century Group has bought New York-based asset management firm PineBridge Investments.
PineBridge has US$87.3 billion in assets under management, including a substantial alternative
investments business.
4 Apr 2010
Top 10 Asian fund launches in 2009
1. ChinaRock Capital, Multi-Strategy, Sep-09, $400m
2. Senrigan Asia, Event-Driven, Nov-09, $220m
3. Prudence Enhanced Income Fund, Fixed Income, Jan-09, $150m
4. PK Japan, Long Short Equity, Oct-09, $212m
5. Dymon Asia Macro Fund, Macro, Aug-09, $125m
6. Temujin Model Portfolio, Multi-Strategy, Jan-09, $125m
7. Karakoram Fund Ltd, Long/Short Equity, Jul-09, $124m
8. Sumitomo Tactical Equity Concepts Japan Fund, Long Short Equity, Jun-09, $108m
9. Tactical Equity Concepts - Japan Fund, Long/Short Equity, Jun-09, $106m
10. Henderson Asia Pacific INC Absolute Return Fund, Long Short Equity, Jul-09, $103m
28 Mar 2010
Stock analyst Ferdinand Cheuk has joined SAC in Hong Kong.
23 Mar 2010
London-headquartered hedge fund manager Algebris Investments plans to open an office in Asia.
The US$1.6 billion shop is apparently choosing between setting up in Hong Kong and Singapore.
Hmmm...Lan Kwai Fong versus Clarke Quay? Dim sum versus chili crab? Big decisions.
11 Mar 2010
HAN Capital, founded by ex-SAC portfolio manager John Liu, is launching its second fund, the
Greater China IPO Fund.
10 Mar 2010
Nyree Hu has joined CQS, a global US$6.6bn hedge fund manager, in Hong Kong. She was
previously at Ecofin and UBS Wealth Management.
9 Mar 2010
Hong Kong-based Nine Masts Capital plans to launch a relative-value capital structure arbitrage fund.
Nine Masts Capital’s CIO is Wang Bing (ex-head of Deutsche Bank’s Saba Principal Strategies in
Asia) and he is joined by James Tu (ex-DKR Oasis, Merrill Lynch), Ron Schachter (ex-Saba) and Glyn
Treasure (ex-J.P. Morgan).
8 Mar 2010
DE Shaw is understood to be opening offices in Shanghai and Tokyo in the coming months.
4 Mar 2010
Ken Griffin’s Citadel is understood to have cut four of the ten people working in its Asian special
situations team.
3 Mar 2010
Anthony Correa and Hani Abuali (both ex-Polygon) reportedly plan to launch a pan-Asian hedge fund
in the coming weeks. The new fund manager, Black’s Link Capital, will be based in Hong Kong.
22 Feb 2010
Moore Capital, Maverick Capital, Viking Global Investors and Stark Investments are reportedly
planning to open offices in Asia during the spring.
Cheetah Investment Management has launched a feeder fund, aimed at Hong Kong family offices,
giving access to Jim Leitner's JL Falcon Global Fund.
Algebris Investments, the US$1.5 billion London-based manager, is considering opening an Asian
office in Hong Kong.
Income Partners, with US$500 million in firm AUM, has launched the IP Asian Opportunities Fund
platform. The platform will focus on special situations/event-driven strategies in Asia. Income
Partners has teamed up with Deutsche Bank and HSBC to launch the platform.
Franco Ngan Wai Wah (formerly CEO of Value Partners and Chairman of Sensible Asset
Management) has established Zeal Asset Management which will focus on value investing,
fundamental research and bottom-up stock-picking.
17 Feb 2010
Balyasny Asset Management, the US$2 billion Chicago-headquartered multi-strategy hedge fund
manager, plans to add between two and four portfolio managers in its Hong Kong office.
12 Feb 2010
Munsun Asset Management has launched its first hedge fund, the Munsun China Opportunity Fund.
11 Feb 2010
Orchard Capital Partners, a spin-off from Stark Investments, launched a new pan-Asia long/short
fund, Orchard Gemini, in January.
5 Feb 2010
Thor Monsen (ex-NewFinance) has joined Cadogan in a hedge fund research role.
2 Feb 2010
GFIA, Peter Douglas' hedge fund of funds and research shop in Singapore, has cut its coverage of
most mainland China-based funds due to their lack of transparency.
29 Jan 2010
Barry Lau has left BNP Paribas to set up CIGMA together with Geoffrey Lam (ex-Shenyin Wanguo
Asset Management). CIGMA plans to run a managed accounts platform for mainland Chinese fund
managers.
26 Jan 2010
Harvey Twomey at Deutsche’s Asian prime brokerage has hired Diana Yang (ex-Merrill Lynch, NYSE
Euronext) in a combined capital introduction and sales role.
25 Jan 2010
Anders Jacobsen (ex-Bankers Trust, Chase Manhattan) and Paul Thompson (ex-Goldman Sachs,
Prudential, SGI Management) plan to launch Galileo Capital Management. The firm will be
headquartered in London with additional offices in Hong Kong and Luxembourg.
22 Jan 2010
Morgan Stanley has recruited Jenkin Leung as its new head of capital raising in Asia. He was
previously CEO of hedge fund manager Hindsight in Hong Kong and managing director at Lehman
Brothers.
20 Jan 2010
Tokyo-headquartered Sparx Asset Management will distribute its hedge funds outside of Japan
through Hong Kong-based Triple A Partners.
19 Jan 2010
Credit Suisse continues to build its Asian prime brokerage which now employs around 100 people. It
has recently recruited Deborah Lee (ex-Goldman Sachs) in a capital introduction role. Reportedly the
firm will increase its Asian prime brokerage headcount by up to 20%.
WIM Asset Management has set up a socially-responsible investment hedge fund focused on
Greater China. Portfolio manager for the WIM Sustainable SRI Master Fund is Wu Jun.
Hong Kong-based Pangu Capital plans to launch its first hedge fund in the coming months. Portfolio
managers Anthony Tse (ex-Gandhara Capital) and Simon Hwang (ex-Ludgate Hill Investment
Management) will focus on investments in Greater China.
18 Jan 2010
The second Hong Kong Hedge Funds Club networking event will take place at the China Club on
March 18.
15 Jan 2010
Soros Fund Management and GLG Partners both plan to open offices in Hong Kong according to
industry sources.
13 Jan 2010
Hong Kong-headquartered FoFs manager SAIL Advisors plans to launch a distressed asset fund.
Tiresias Capital plans to launch an event-driven Asian fund. The fund will be managed by Matthew
Moskey, formerly head of the Hong Kong office of Centaurus Capital.
11 Jan 2010
Silver Spring Capital Management in Hong Kong will be launching a new China equity long short
strategy in Q1 2010. The investment team is led by Leping Wang (CEO & Portfolio Manager) and
Sanjay Khanduri (Portfolio Manager).
9 Jan 2010
Tokyo-based Atsuko Tsuchiya (ex-Sparx, Citadel, Merrill Lynch) plans to launch a new Japanese
event-driven fund, the Atom Japan Alpha Fund, in March. Hong Kong-based Penjing Asset
Management is the anchor investor for the new fund. Stan Howard’s Gordian Capital in Singapore will
be the manager of the fund with Atsuko Tsuchiya’s Atom Capital Management as the investment
advisor.
8 Jan 2010
Penjing Asset Management and Triple A Partners have joined forces to raise funds for emerging
hedge fund managers. The Penjing Triple A Partners Emerging Managers Fund is a modified version
of the existing Penjing Seed Fund. The seed fund will invest in hedge fund managers in the Asia-
Pacific region.
7 Jan 2010
New York-headquartered multi-strat shop Sandell Asset Management, headed by Thomas Sandell
(ex-Bear Stearns), has closed its Hong Kong office.
6 Jan 2010
Peter Bennett, formerly of Gottex, has joined Quant Asset Management as an independent director
of two of its hedge funds.
17 Dec 2009
After ten years at PIMCO, Changhong Zhu will leave the firm to become CIO of the Reserve
Management Department of China’s State Administration of Foreign Exchange (SAFE).
9 Dec 2009
SAIL Advisors, the Hong Kong-headquartered fund of funds manager, is setting up an office in New
York to research US-based hedge fund managers. Mike Tomlinson, Jeff Tomlinson, Chris Solarz and
Shaunak Amin will work in the new office and they are all joining from ING.
4 Dec 2009
Fund of funds manager StoneWater Capital is looking to hire a marketer for its Asian fund of funds.
2 Dec 2009
US$7 billion hedge-fund manager Stark Investments is starting over in Asia. Following the recent
management buy-out of its Asian operations (now called Orchard Capital Partners) the US-
headquartered firm is now hiring for a new Hong Kong office.
1 Dec 2009
Morgan Stanley has rehired Scott Ashton for its prime brokerage unit in Hong Kong. He left the firm
in 2008 to join Blackstone.
26 Nov 2009
Neuberger Berman is considering seeding Asian hedge funds as part of its expansion in Asia.
18 Nov 2009
Bill Lu, formerly of Tudor Investment Corporation, has been hired by US$300 billion sovereign wealth
fund China Investment Corporation to manage its hedge fund investments.
12 Nov 2009
Hong Kong-based hedge fund manager Galaxy Asset Management plans to launch the Galaxy China
Special Situations Fund. Joseph Chu (ex-CLSA) and Freeman Yim (ex-Rabobank) will be the main
portfolio managers.
10 Nov 2009
Affiliated Managers Group (AMG) has bought a 5% stake in Hong Kong-based hedge fund manager
Value Partners Group. Value Partners has an AUM of US$4.6 billion. AMG plans to open a Hong Kong
office in 2010.
9 Nov 2009
The hedge fund industry in Hong Kong now employs an estimated 4,000 people, according to an
AIMA survey. About half of the 4,000 people work in hedge fund fimrs while the other half is
employed by service providers to hedge funds.
4 Nov 2009
Michael Mills, formerly a capital introductionist at Citi and UBS in Hong Kong and Tokyo respectively,
has joined Orchard Capital Partners as director of marketing and client relations. Orchard is the Asian
spin-out from Stark Investments.
Asian hedge fund assets have increased to US$73.7 billion in the third quarter of 2009, according to
a report by Hedge Funds Research Inc.
26 Oct 2009
Activist hedge fund manager TCi (The Children’s Investment Fund) has apparently shut down its
Asian office in Hong Kong last week. This follows the departure earlier this year of John Ho, its head
of Asian investments.
23 Oct 2009
Anthony Correa (ex-head of Polygon in Hong Kong) is launching a new event-driven hedge fund
called Black's Link.
22 Oct 2009
Hong Kong-based Brooke Capital has hired two analysts: Emerald Kwai and Yongxin Zhang.
20 Oct 2009
Grace Foo (ex-DKR Oasis) has joined Ajia Partners as Head of Research. Kelvin Cheng
(ex-Citi) has also joined Ajia.
Stark Investments, the US-headquartered US$7.5bn hedge fund manager, is losing its
Asian teams in Hong Kong and Singapore. Portfolio managers Stu Wilson and Teall Edds
are taking over funds, offices and people and naming their new business Orchard Capital
Partners.
19 Oct 2009
Hong Kong-headquartered PMA has launched the PMA India Fund which is managed by
Anoop Villait.
Galaxy Asset Management, headed by Joe Chan, is rolling out the Galaxy China Deep
Value Fund.
Senrigan Capital, headed by Nick Taylor (ex-Citadel and Modal), has reportedly received
US$150m of seed money for a new event-driven fund from Blackstone. Senrigan is
expected to launch in November with US$220m in AUM which would make it one of the
largest Asia-focused hedge fund launches in 2009.
Ajia Partners in Hong Kong has teamed up with Impax Asset Management in the UK to
launch a fund focused on Asian companies that will benefit from the fast growing
environmental market. David Li and Bruce Jenkyn-Jones will co-manage the fund.
Samena Capital and Argyle Street Management, the Asian debt specialist, have jointly
launched an Asian bond fund.
16 Oct 2009
Paul Choi (ex-Cheyne Capital) has joined Enhanced Investment Products in Hong Kong.
15 Oct 2009
As of March 2009, Hong Kong is home to 209 active hedge-fund management firms that
manage a total of 542 funds and US$55.3 billion in assets (down from US$90.1bn in March
2008), according to Hong Kong's Securities and Futures Commission.
8 Oct 2009
Raaj Shah (ex-Och-Ziff) has launched the Matchpoint Asia Fund at close to US$50m. The
investment team, based in Hong Kong, will invest in under-researched and mis-priced
Asian securities.
7 Oct 2009
FRM Capital Advisors, FRM's seeding arm, has made its first investment in an Asian hedge
fund. It has invested an undisclosed amount in Isometric Capital Management, headed by
Sanjiv Bhatia (ex-Deephaven and Goldman Sachs).
6 Oct 2009
Ted Lee is understood to have left Sparx's fund of hedge funds business in Hong Kong.
2 Oct 2009
The Hong Kong-based Greater China hedge fund manager Triskele Capital has launched
a convertible bond fund. The portfolio manager is Shiba Tsuyoshi and the fund's AUM is
US$30m.
29 Sep 2009
London-based hedge fund manager Capula Investment Management has reportedly won a
US$200m mandate from China Investment Corporation.
25 Sep 2009
Cranmore Capital Advisers, Kurt Baker's hedge fund platform, has hired Ben Homer (ex-
Elliott Advisors) as COO.
23 Sep 2009
John Liu (ex-SAC) at HAN Capital Management is launching a Great China focused equity
long/short arbitrage fund with two partners. The fund is the first quantitative market neutral
fund in China to arbitrage short-term market inefficiency across China A shares and Hong
Kong H shares. HAN Capital will open an office in China in addition to its New York
headquarters.
Nathan Davison (ex-Merrill Lynch) has been hired by Deutsche to co-head Asian prime
finance.
22 Sep 2009
Kamni Bharwani, who left SAIL earlier this year, has turned up at Rockhampton's fund of
funds business, where she is reunited with old mate Denise Hu.
18 Sep 2009
Omnix Capital in Hong Kong has launched the Omnix Multistrategy Fund with an initial AUM
of US$20 million. Joint portfolio managers are Paul Penkett and Stephen Cheng (both ex-
Lehman). Carl O'Connell (ex-DKR Oasis and TPG Axon) has joined them as COO.
16 Sep 2009
Rocco Paduano (ex-HSH Investment Partners, Goldman Sachs and Morgan Stanley) has
joined Credit Suisse as Asia-Pacific COO for prime services.
15 Sep 2009
Hong Kong-based fund of hedge funds manager Vision Investment Management has
bought a majority stake in Harmony Capital Managers, an event-driven hedge fund
manager.
10 Sep 2009
Bank of China is reportedly planning to launch a fund of hedge funds in 2010.
7 Sep 2009
Hong Kong-based Pacific Century Group, owned by Richard Li, is taking over AIG's
investment advisory and asset management business.
4 Sep 2009
The Financial Supervisory Commission (FSC), Taiwan's regulator, is stepping up its efforts
to control the marketing activities of unregistered offshore investment providers. The FSC
has recently started a campaign to warn local investors not to invest with unlicensed
providers. The FSC campaign also aims to remind offshore investment providers that all
unlicensed marketing activities in Taiwan are illegal.
3 Sep 2009
Next month, SYWGAM is launching its first Chinese fund of funds, the SWS China
Transformers Fund. The new fund of funds will invest with fund managers based in the
People's Republic of China and aims to provide exposure to local Chinese absolute return
funds for international investors. SYWGAM is a subsidiary of Shenyin & Wanguo Securities
Co.
30 Aug 2009
China Investment Corporation, China's sovereign wealth fund, is investing billions of
dollars in hedge funds and private-equity funds, according to its chairman, Lou Jiwei. The
fund has a total of US$297.5 billion in assets, most of it in cash and cash equivalents.
22 Aug 2009
According to a report by Hedge Fund Research, 24% of Asia-focused hedge funds are now
located in Greater China.
21 Aug 2009
New York-based hedge fund Tiger Asia Management is being accused of insider trading by
the Securities and Futures Commission, the Hong Kong regulator. According to the SFC,
three senior Tiger Asia employees used insider information to sell short shares in China
Construction Bank.
19 Aug 2009
The Hong Kong-based Minerva Macro Fund has received a seed investment of US$50m
from Man Investments. Minerva is run by Stanley Ku (ex-Fortress) and Dorothy Lau (ex-J.P.
Morgan and Goldman Sachs).
18 Aug 2009
HedgeFund.net's HFN China Average hedge fund index was +10.84% in July and +35.61%
YTD.
12 Aug 2009
Roger Lee (ex-Nikko Asset Management in Singapore) has joined Tarascon Capital, a
Hong Kong-based US$30 million hedge fund set up in 2007 by Jonathan Iu.
UBS has appointed Ashley Jarvis as Asia-Pacific head of prime broker sales. He will be
based in Hong Kong.
3 Aug 2009
Carol Shing has left Marco Polo Pure Asset Management in Hong Kong.
The Securities and Futures Commission, the Hong Kong regulator, is considering making
short selling reporting mandatory.
2 Aug 2009
Danny Hegglin (ex-Morgan Stanley) has joined TT International, a US$3 billion hedge fund
firm, as partner. Hegglin will continue to be based in Hong Kong to lead TT's Asian
business.
31 Jul 2009
Citigroup has appointed Rimmo Jolly to the newly created position of the head of prime
finance sales and capital introduction for Asia Pacific. Jolly will relocate from San Francisco
to Hong Kong to take up the new role.
Hong Kong-based distressed/special situations manager ADM Capital will launch a new
fund at the end of August with US$100 million of seed capital from an American institution.
30 Jul 2009
China Investment Corporation will invest US$700m with the funds of hedge funds of
Blackstone and Morgan Stanley Investment Management.
28 Jul 2009
Joanne Bryant-Rubio, ex-CLSA and Atlas Capital, has joined Merrill Lynch's prime
brokerage in Hong Kong in an Asian capital introduction role.
27 Jul 2009
Bob Howe's Hong Kong-based fund management company Geomatrix has re-launched its
Akamai Pan-Asia Fund as the Opera Pan-Asia Fund in early July. This follows the recent
acquisition of Geomatrix by financial consulting company Opera Solutions. The investment
team has been expanded by the addition of trader Oliver Zeng (ex-Susquehana and State
Street).
23 Jul 2009
Hong Kong-based Liu Yang, who heads Atlantis Investment Management's China
business, has also taken over as chairman of and chief investment officer of Atlantis, a
US$2.6 billion asset manager. She replaces Tony Jordan who has recently left Atlantis.
Hong Kong-based fund of hedge funds manager Persistent Edge has hired Peter Wu (ex-
BNP Paribas, Societe Generale, ABN AMRO, China Everbright Bank, Bank of China) as an
executive director responsible for marketing and investor services in the Greater China
region.
20 Jul 2009
Hong Kong hedge fund Tribridge Investment Partners has hired John Liptak (ex-Bank of
America) to manage its new Tribridge Asian Special Situations Fund, which is planned to
launch in August.
Ryan Fong Yen-hwung, formerly a portfolio manager at Hong Kong hedge fund HSZ, has
been sentenced to one year in jail and a fine of HK$1.4 million for insider trading.
14 Jul 2009
Winton Capital Management, a London-headquartered hedge fund manager with US$12
billion in AUM which opened a Hong Kong office last December, is looking to hire one or
two researchers with a focus on the Chinese markets.
10 Jul 2009
Ronnie Wu, CIO of fund of funds manager Penjing Asset Management in Hong Kong, plans
to start seeding early stage Asian hedge fund managers in August. Earlier seeding deals
by Penjing have been in the US$5 million to US$15 million range, while the new seeding
effort may invest up to US$25 million.
9 Jul 2009
Benjamin Happ, formerly head of business development at hedge fund Abax Capital in
Hong Kong and Morgan Stanley' prime brokerage in New York, has joined Credit Suisse's
Asian prime brokerage in a capital introduction capacity.
Ryan Fong, ex-hedge fund HSZ, has admitted to insider trading of Hong Kong-listed shares
of Media Partners International Holdings in 2005. He will be sentenced next week.
8 Jul 2009
Eddie Kir, formerly of China Everbright Asset Management, has joined Shenyin Wanguo
Asset Management as Sales & Marketing Director. Shenyin Wanguo plans to launch a
China themed hedge fund in the near future.
6 Jul 2009
Raymond Foo (ex-Brevan Howard) has joined Veritas Asset Management as a senior
analyst in Hong Kong. Veritas has US$1.6 billion in AUM and manages both hedge funds
and long-only funds.
3 Jul 2009
Tahan Capital Management is launching a hedge fund investing in Asian high yield and
distressed securities, credit long/short, and macro strategies. Tahan is headed by Ng Yong
Ngee and the senior management team also includes Chia Tse Ern (ex-GLG, Jabre
Capital); Bryan Choo (ex-Schroders, UBS); Charles Ooi (ex-HSBC, UBS) and Joseph Lam
(ex-Deutsche Bank, Morgan Stanley).
1 Jul 2009
Scott Krusemark, formerly Asian director of Deephaven Capital in Hong Kong, has joined
Victory Park Capital as CFO.
29 Jun 2009
Asia's 25 biggest hedge funds as of April 1, 2009
1. Sparx Group (Tokyo) US$4.82bn
2. Value Partners (HK) US$3.19bn
3. Artradis Fund Management (Singapore) US$2.722bn
4. ADM Capital (HK) US$2.2bn
5. Arisaig Partners (Singapore) US$1.996bn
6. Penta Investment Advisers (HK) US$1.910bn
7. Pacific Alliance Investment Management (HK) US$1.450bn
8. Target Asset Management (Singapore) US$1.400bn
9. Aisling Analytics (Singapore) US$1.186bn
10. Ortus Capital Management (HK) US$805m
11. LIM Advisors (HK) US$800m
12. Tree Line Investment Management (HK) US$760m
13. JL Capital (Singapore) US$618m
14. Sofaer Capital (HK) US$610m
15. Symphony Financial Partners (Singapore) US$600m
16. Asia Genesis Asset Management (Singapore) US$599m
17. Tower Investment Management (Tokyo) US$581m
18. Ward Ferry Management (HK) US$575m
19. Income Partners Asset Management (HK) US$520m
20. Lapp Capital (Singapore) US$500m
21. UG Investment Advisers (Singapore) US$496m
22. Argyle Street Management (HK) US$458m
23. Abax Global Capital (HK) US$455m
24. Brooke Capital (HK) US$450m
25. Asuka Asset Management (Tokyo) US$428m
Source: Alpha Magazine
Melbourne-based Kima Capital, headed by Justin Klintberg (ex-Marble Bar), is launching a
pan-Asian long/short fund this week. The bulk of the fund's assets will be invested in
Australia, Japan, Hong Kong, China and Singapore. KIma's Asian strategy combines
arbitrage, event driven and corporate events. Klintberg has recruited Michael Gallagher (ex-
Macquarie Bank and Rand Merchant Bank) as CEO. The fund will be launched with A$15
million in AUM.
26 Jun 2009
Masaki Taniguchi has been appointed the new President of Sparx Asset management,
Asia's largest hedge fund manager. Taniguchi-san previously ran Sparx's Hong Kong office
and prior to joining the firm he was at Goldman Sachs Asset Management.
25 Jun 2009
Shanghai Securities News has reported that the China hedge fund industry now has over
RMB20 billion in assets under management.
24 Jun 2009
Sumitomo Trust Finance in Hong Kong has launched a new Japanese equity long/short
fund. The Tactical Equity Concepts-Japan Fund is being seeded by Sumitomo Trust &
Banking, Japan's fifth largest bank, with just over US$100m.
Aksia, with offices in the US and Asia, has won Institutional Investor magazine's Hedge
Fund Consultant of the Year Award.
23 Jun 2009
Charlotte Stopford Sackville is no longer with Stark Investments. She was the firm's Hong
Kong-based investor relations person for Asia.
Ryan Bacher, Asian co-head of prime brokerage at Deutsche, has resigned. He is
reportedly joining Barclays Capital in a senior prime brokerage role in Asia.
18 Jun 2009
Felix Chee, adviser to China Investment Corporation, the US$200 billion sovereign wealth
fund, said at an industry conference that it aims to make investments in hedge funds
through managed accounts in the near future.
Kurt Baker, formerly Asian head of Morgan Stanley's prime brokerage, has revealed that he
intends to launch a hedge fund platform in Hong Kong in the near future.
16 Jun 2009
Hong Kong-based FoFs manager SAIL Advisors will take over the running of three ING
Alternative Asset Management FoFs funds. As part of the deal, Harold Yoon, CIO and head
of ING’s FoFs business will also join SAIL as its new CIO. The current CIO, Eliza Lau, will
retire from her role but will remain as an advisor to the firm in the near term. SAIL will also
set up an office in New York.
11 Jun 2009
London- and Hong Kong-based mCapital (set up by Mark Devonshire, ex-Merrill Lynch) will
launch its European and Asian Special Situations Fund at the end of June. The strategy is
focused on stressed, distressed, recovery and development capital in Europe and Asia.
9 Jun 2009
Morgan Stanley is starting to build up its Asian prime brokerage...again. SAIL's Marcella Lui
has been hired as a capital introduction specialist in Hong Kong and Keiko Kawauchi has
returned to the firm she left last year to be in charge of cap intro in Japan.
3 Jun 2009
Vision Investment Management in Hong Kong has sold its seeding business, Vision Asia
Pacific, to Samena Capital in London. As part of the deal, Vision will become a shareholder
in Samena and Vision CEO Jerry Wang will join Samena's board. At the same time Vision
is expanding its core fund of funds business by hiring three marketing professionals in
New York and London.
28 May 2009
Deepstream Capital in New York is reportedly close to making a deal with Primus Financial
in Hong Kong for a US$200m seed investment for a distressed hedge fund. The fund will
be managed by Randy Barker and Geoff Coley (both ex-Citi). Hong Kong-based Primus
Financial was set up in April with US$1 billion from a wealthy family in Asia.
27 May 2009
UBS's Asian head of prime services, Matt Pecot, has joined Credit Suisse in a similar role.
21 May 2009
Abax Global Capital in Hong Kong, partly owned by Morgan Stanley, is opening its Tudor-
seeded Asian macro fund to outside investors. It also promises to refund part of its
performance fee if the fund loses money in the subsequent year.
19 May 2009
Jim Fallon, formerly a capital introductionist at Morgan Stanley, has joined the prime
brokerage business of Merrill Lynch in Hong Kong. He most recently had a stint at fund of
funds manager Tremont. He will be part of the Asia-Pacific financing sales team but also
handle capital introduction for Merrill Lynch's hedge fund clients.
15 May 2009
Asia-focused hedge funds have gained more than 8.5% YTD, including a 7% increase in
April, according to the HFRI Emerging Markets Asia ex-Japan Index.
The Blackstone Group has cancelled its plan to launch a US$1 billion Asian event-driven
hedge fund.
13 May 2009
Anderson Choi, previously of Triple A Partners and Shinko Securities, has joined the
Japanese institutional sales department of CITIC Securities International in Hong Kong.
12 May 2009
Bloomberg reports that Shafiq Karmali (ex-Goldman Sachs) plans to start an Asian equities
long/short hedge fund in August. Karmali's firm, Cypress Lane Capital, will be based in
Hong Kong.
10 May 2009
Brooke Capital in Hong Kong has hired James Cameron (ex-Pyrenees, Atlantis, Credit
Suisse) as an analyst to work on the East of Suez Fund, a long/short equity strategy.
8 May 2009
Income Partners Asset Management, a Hong Kong-based asset manager with US$620m,
has lifted its gates to allow investor redemptions again for the first time since October.
7 May 2009
New York-headquartered US$1.8bn credit hedge fund manager Claren Road has opened a
Hong Kong office. Richard Chun and Desmond Chum (both ex-Citi) have joined Claren
Road as portfolio managers in the new Asian office.
AIMA Hong Kong claims that Hong Kong is the largest hedge fund centre in Asia with
managers in the city overseeing US$22bn in AUM as of last December. Yes, perhaps, but
what about the pollution and all the noise? We still prefer Tokyo to Hong Kong. According to
AIMA, Hong Kong had 245 hedge fund managers at the end of 2008 and there were 30
hedge fund startups in Hong Kong in 2008.
6 May 2009
Hong Kong-based Enhanced Investment Products yesterday launched a new fund
investing in Asian high-yield convertible bonds with an initial AUM of US$17m. The PM is
Yvon Choi and the firm is also planning on hiring a senior credit and equity analyst for the
new fund.
30 Apr 2009
Kamni Bharwani, hedge fund analyst at fund of hedge funds manager SAIL in Hong Kong
for the past three years and prior to that a financial journalist, left the firm last month. Where
is she sailing? We've got an idea...
AsianInvestor magazine has announced the winners of its 2009 Investment Performance
Awards for institutional funds management. The winner in the Greater China category is
Triskele China Fund and Persistent Edge won the Asian FoFs house award.
Eurekahedge's Asian Hedge Fund Awards 2009 (to be held in Singapore on 29 May) has
released the shortlist for the Best Greater China Hedge Fund award: Credence Oriental
Partnership, Dragon Billion China Fund, LBN China + Opportunity Fund, Northwest China
Opportunities Fund, QBridge Fund, Spitzer Dragon Fund, Tairen China Fund and Triskele
China Fund.
29 Apr 2009
The Securities & Futures Commission in Hong Kong has been granted an injunction order
by the High Court to freeze more than US$110 million in assets of Hong Kong-based
hedge fund Descartes Athena Fund on suspicion of fraud.
27 Apr 2009
Credit Suisse Asset Management has appointed Conrad Yan (ex-AIG Investments) to
manage distribution of alternative investment products in Asia. Yan is based in Hong Kong.
Sail Advisors, the US$1.8bn Hong Kong-based FoFs shop, has hired Miodrag Janjusevic
as chief risk officer. Janjusevic, who is replacing Jeff Nie, joins from Deutsche Bank where
he was director of strategic solutions. Prior to Deutsche he spent 15 years at J.P. Morgan.
15 Apr 2009
John Ho, the Asian head of activist manager The Children's Investment Fund, is apparently
leaving the firm.
14 Apr 2009
Rockhampton Management is launching a fund of funds platform in Hong Kong. They have
recruited Denise Hu from SAIL to lead this new initiative.
10 Apr 2009
According to Asian Investor, former Hindsight portfolio manager Man Wing Chung is
rumoured to be making a return to the alternatives industry with a new Greater China hedge
fund he is launching together with LV Jun (ex-CIO at China International Fund Management)
and Taiwan specialist Peter Tang.
Thor Monsen has left the Hong Kong office of FoFs NewFinance Capital where he was a
senior hedge fund analyst.
9 Apr 2009
Hindsight Asset Management in Hong Kong is launching an Asian convertible bond
strategy together with Hamon Investment Group in a new joint venture called HSH
Investment Partners.
8 Apr 2009
According to The Wall Street Journal, the Church Pension Fund, a US$8 billion pension
fund serving the Episcopal Church, is opening a Hong Kong office. Eric Mason (ex-Carlyle
Group) has been hired to head the new office. The Asian office is understood to be covering
all asset classes including private equity, real estate and hedge fund investments in Asia.
1 Apr 2009
According to The Wall Street Journal, US hedge fund manager Och-Ziff Capital
Management will take a loss of about half of their investment in the Fisherman's Wharf
theme park and casino development project in Macau. It is believed that the fund manager
may withdraw from the project as the expected public stock offering in Hong Kong and a
planned doubling of the park size failed.
26 Mar 2009
Funds of hedge funds Persistent Edge China Partners Fund and Persistent Edge Asia
Partners Fund returned +3.53% and +2.21% respectively during the January to February
period. China Century Fund did +1.26% and Adept Capital +1.25% during the same period.
23 Mar 2009
Alleged hedge fund fraudster Albert Hu was arrested in Hong Kong last week. Hu reportedly
ran a number of fake hedge funds in California. Federal prosecutors in the US have
charged him with stealing millions from clients and lying about the safety of their
investments, promising annual returns of up to 30%. According to the prosecutors, Hu
wired the money received from investors to bank accounts in Singapore, Hong Kong and
Taiwan. The sham hedge fund management companies used by Hu included Asenqua
Capital Management, AQC Asset Management and Fireside Capital Management.
16 Mar 2009
London and Hong Kong-based hedge fund frim mCapital has appointed Banny Leung (ex-
Merrill Lynch) as senior partner in Hong Kong. Leung will be responsible for Asian special
situations.
13 Mar 2009
Xela Capital, a Taiwan-focused hedge fund managed by James Carroll, has been shut
down after running for a year. The fund significantly outperformed its benchmark index, but
factors such as the fund's small AUM and Taiwan's introduction of a shorting ban made it a
difficult strategy to run successfully. James Carroll is understood to be working on a new,
broader strategy to be launched later this year.
6 Mar 2009
Edwin Wong has founded SSG Capital in Hong Kong, which will manage an Asian
distressed investment strategy. Wong is joined at SSG by six of his former Lehman
Brothers colleagues.
2 Mar 2009
Ajia Partners, a Hong Kong-based hedge fund incubator and fund of funds, has launched a
new CTA-focused FoFs, the Explorers Fund.
24 Feb 2009
Chin Yee Yap, ex-Asian head of structured credit markets at Nomura in Hong Kong, is
setting up his own hedge fund firm called Gemini Capital. Prior to Nomura he spent 14
years at Lehman Brothers.
22 Feb 2009
Neil Scrase, who left Gottex last year, has resurfaced at Ballingal Investment Advisors, a
hedge fund firm in Hong Kong with 9 staff members and US$360m under management in
two Asian multi-asset hedge funds, both with positive returns for 2008.
16 Feb 2009
Mark Fuchs, ex-head of Southeast Asian equities at Credit Suisse, has set up Fuchs
Capital Partners of which he is now the CEO and CIO. The new firm plans to launch an
Asian equity long/short fund this spring focused on the Asean region. Fuchs has recruited
Winston Loke from Credit Suisse and Mark Maroongroge (ex-HBK) to join him at the new
firm.
13 Feb 2009
Over 80% of Asian hedge funds can’t charge their investors performance fees after
finishing 2008 below their peak net asset values, according to Eurekahedge. An estimated
one-third of the 1,000 Asian hedge funds tracked by Eurekahedge delivered positive returns
in 2008. This compares to 82% in 2007.
11 Feb 2009
HK-based hedge fund firm Doric Capital Corporation has been bought by the management
team comprising of Howard Wong, Jeff Liu and Rajesh Ranganathan. The team is backed
by strategic investor Hamon Investment Group. Doric’s founder, Michael Nock, will remain
a board member and also keep a smaller stake in the company.
10 Feb 2009
Pinpoint Investment Advisor's Rising China Fund has seen its AUM drop by 69% following
the departure by a key portfolio manager. The fund now has US$83m in AUM. CIO Wang
Qiang has now taken over the portfolio management.
9 Feb 2009
AUM in Asian hedge funds continued to fall in Q4 of 2008. Hedge Fund Research estimates
that a decline of nearly US$16bn has left Asian hedge funds with just over US$71bn in AUM.
Assets invested in Asian hedge funds peaked at US$111bn at the end of 2007. The decline
in Asian hedge funds in the second half of 2008 was 28.9%.
4 Feb 2009
Is the Middle Kingdom bouncing back? Well, not exactly but at least some of its hedge
funds have had a decent start to 2009 after a terrible 2008. Pacific Sun's China Mantou fund
was down 52.2% in 2008, but up 3% in January, a month when indices tracking large cap
China stocks were down between 8% and 10% as cash hungry foreign banks unloaded
their strategic stakes in their mainland counterparts, following the end of three-year lock up
periods.
RAB Capital has sold its Asian subsidiary Northwest back to its former owners, George
Philips and David Rogers, who have been working at RAB Capital since RAB took over their
business in September 2006.
3 Feb 2009
Chua Sue-wan has been appointed deputy group treasurer at The Hong Kong Jockey Club.
He will take over from Keith Yuen who left at the end of 2008 to join Principal Financial
Group as COO for Greater China. Chua joins from SEI Investments where he most recently
was head of alternative investments. Earlier in his career he worked at Rothschild Asset
Management and the World Bank. He will report to group treasurer Jacob Tsang.
1 Feb 2009
The AUM of Value Partners has reportedly shrunk to around US$3bn as of end of November
figures.
29 Jan 2009
In a ranking of the 25 biggest single-manager hedge fund firms in Asia (as of March 31st
2008) twelve of the managers are HK-based:
2. Value Partners (HK) US$5.9bn
6. Tree Line Investment Management (HK) US$2.2bn
8. Ortus Capital Management (HK) US$2bn
9. Ward Ferry (HK) US$2bn
10. ADM Capital/Asia Debt Management (HK) US$1.9bn
12. Pacific Alliance Investment Management (HK) US$1.6bn
13. Penta Investment Advisers (HK) US$1.5bn
14. Lim Advisors (HK) US$1.4bn
15. Sofaer Capital (HK) US$1.1bn
18. Income Partners (HK) US$970m
19. Nezu Asia (HK) US$900m
22. Argyle Street (HK) US$820m
Source: Alpha/Institutional Investor
28 Jan 2009
Threadneedle Asset Management has said that it expects Chinese equities to outperform a
recovery in Asia stocks based on both Beijing’s policy flexibility and projected solid
consumer spending through the global recession.
23 Jan 2009
The HFN China Average Index of Greater China-related hedge funds was down -34.57% in
2008. In both 2006 and 2007 it was up more than 50% in each year.
22 Jan 2009
London-headquartered Ecofin expands in Asia by relocating Nyree Hu from London to
Hong Kong. Hu will head up Asian marketing and investor relations.
21 Jan 2009
Macquarie Funds Group and Jim Rogers have joined together to create an agricultural
commodities index that reflects changes in food consumption patterns in China . The
Macquarie and Rogers China Agriculture Index is an investable index that tracks changes in
the price of a basket of agricultural commodities most commonly consumed in China.
20 Jan 2009
US-headquartered hedge fund manager AM Investment Partners, has launched an Asian
volatility fund in Hong Kong. The fund is managed by Craig James who has joined AM from
Deutsche Bank. At launch the fund had attracted more than US$100m in AUM.
Barclays Wealth has appointed Joanna Chu as co-head of private banking in North Asia .
She joins from Hang Seng Bank.
Sun Hung Kai Financial has launched a recovery fund that will be managed by Paulson &
Co in New York . The fund will identify investment opportunities within a select group of
distressed global financial companies worldwide.
19 Jan 2009
Yvon Choi, who recently shut down his own hedge fund Middle Island Capital, has joined
hedge fund Enhanced Investment Products as a trader of convertible bonds and equity
derivatives. Choi was previously at BNP Paribas and Nomura.
Enzio von Pfeil (ex-ABN AMRO, Clarion Capital, SG Warburg, Smith New Court) and Kai-Rupert Nolte
(ex-HSBC, Deutsche Bank, Standard Chartered Bank) have launched The Economic Time Bond Fund,
a new fixed income long/short fund in Hong Kong.
China Investment Corporation (CIC), the sovereign wealth fund with US$300 billion in AUM,
announced it is on a recruitment drive for 64 positions, including hedge fund-related investment jobs.
Jennifer Carver and Brian MacDougall have left 3A Asia, the Hong Kong-based alternative asset
management business of Syz & Co. Daniel Ghirardi (ex-Harcourt, Pioneer, UBS) has been appointed
Syz & Co's new CEO in Asia.
Trivest Advisors launched a Chinese equity long/short fund on 1 July. Wu Huimin (ex-State Street
Global Advisors, Prime Capital Management/Dragon Billion Greater China Fund), Xue Lan (ex-Citi,
Merrill Lynch) and Sun Lu (ex-Indus Capital Global Advisors, Lehman Brothers) are the partners
behind the fund.
23 Jul 2010
Ken Lu (ex-APAC Capital) and Evan Erlanson (ex-Bear Stearns) will launch a pan-Asia equity
long/short fund as a JV between Seres Asset Management and Unity Investments.
Hong Kong-based Gen2 Partners has recruited Xavier Fanjaud from Infiniti Capital. He is believed to
be bringing with him the FoFs he ran for Infiniti to Gen2.
Value Partners’ Deputy CEO, Eugene Law, has left the firm.
Janice Tang, Highbridge’s Director of Client Relations in Asia, has left the firm.
19 Jul 2010
Ben Horner (ex-Cranmore, Elliott) has joined the prime brokerage division of UBS in Hong Kong.
Additionally, Cheryl Lau (ex-Hillhouse, Value Partners, Goldman Sachs) is joining UBS in a cap intro
role while Tamera Hodges is relocating to Hong Kong from London to head up prime brokerage sales
in Asia.
16 Jul 2010
Mark Valado, executive director at Value Partners Group’s Sensible Asset Management, has left the
firm for a new senior management position in Hong Kong’s investment industry.
Alex Ng has left Superfund in Hong Kong to join Reliance Asset Management in Singapore in a sales
role.
HSBC is trying to launch an Asian prime brokerage. It has recently hired Matt Kiraly (ex-Citi, Bear
Stearns, Nikko Alternative AM) and Lauren Degney (ex-Citi) to join its equity finance team.
13 Jul 2010
Hong Kong-based Value Partners, with US$5.7bn in AUM, is now the biggest hedge fund
management firm in Asia according to Asia Hedge Fund 25, Institutional Investor’s ranking of the
largest Asia-based hedge fund managers. As of 1 April, the firms in the Asia Hedge Fund 25
managed a combined US$36.1bn. Tokyo-based Sparx Group was number two on the list while
Singapore-based Arisaig Partners was number three, Beijing-based Hillhouse Capital Management
number four and Tokyo-based Bayview Asset Management came in fifth.
9 Jul 2010
HSBC’s financial institutions group has hired Melvyn Ford (ex-Merrill Lynch) to head hedge-fund
coverage in Asia.
5 Jul 2010
John Ho (ex-TCI) has raised over US$100m for his new fund, the Janchor Partners Pan Asian Fund.
Jeff Fisher has resigned from RAB Capital in Hong Kong. He is understood to be joining Fortress to
relaunch their Hong Kong office.
28 Jun 2010
London-headquartered RAB Capital has hired David Seex (ex-Citi Alternative Investments) as CEO
of Asia. He will be based in Hong Kong.
26 Jun 2010
Boyer Allan has launched a UCITS-compliant fund, the MLIS Boyer Allan Asian Long Short Fund, on
the Merrill Lynch platform.
24 Jun 2010
UBS is boosting its Asian prime brokerage by relocating Ashley Jarvis and Tamera Hodges from
London to Hong Kong.
23 Jun 2010
Chongyang Investment Management, a deep-value onshore fund manager in China, has launched a
China equity long/short fund in Hong Kong.
WIM Asset Management in Hong Kong has launched the WIM Sustainable SRI Master Fund, a
Greater China equity long/short strategy with a macro overlay.
Shanghai-based Sunpo Capital Management, managed by Yi Zhang (ex-Dynasty Asset
Management) and Dennis Yang, plans to open its new Greater China equity long/short fund to
external investors.
17 Jun 2010
High-net-worth individuals in Asia-Pacific will boost their investment allocation to alternative
investments in the next two years, according to a survey from Datamonitor.
15 Jun 2010
Hong Kong-based Mark Devonshire will finally launch his mCapital European and Asian Special
Situations Fund following several delays. mCapital has secured an anchor investment deal from
IMQubator.
New York-based quant prop trading firm Jane Street Capital is expanding in Hong Kong.
Hong Kong-based China-focused fund manager Galaxy Asset Management is launching a new
UCITS China fund together with Merchant Capital.
11 Jun 2010
Millennium Management, the US-headquartered US$7.3 billion hedge fund manager, has appointed
Kunho Cho (ex-Lehman Brothers) as chairman for its Asian business. Millennium employs about 70
staff in Asia spread across Tokyo, Hong Kong, Singapore and Beijing.
7 Jun 2010
Jonas Palsson has been appointed as head of Eton Park Capital Management's Asia business based
in Hong Kong. He replaces Barbara Yu who has left the firm.
Hong Kong-based ADM Capital, a US$1.7 billion Asian distressed hedge fund manager, plans to
open offices in Kazakhstan and Ukraine. It is looking for investment opportunities in the former
Soviet Union.
4 Jun 2010
Thomas DuCharme (ex-Deutsche Bank) has been appointed as CEO of J.P. Morgan's Asian Treasury
and Security Services business.
3 Jun 2010
Go-To-Asia Investment is understood to have closed down its Hong Kong-based hedge fund.
Einoshin Arima and Giselle Leung have left the firm following the shutdown of the fund.
2 Jun 2010
David Frick and Lily Chai have left SAIL Advisors.
Adam Wallace has been appointed head of J.P. Morgan’s hedge fund administration services in Asia.
He is based in Hong Kong.
Lena Wong has left her job as Sales Director at Value Partners.
JT Capital Management in Hong Kong is planning to launch a China-focused hedge fund. Larry
Zhang, formerly an advisor to China's state pension fund, has teamed up with Kurt Baker, formerly
head of Morgan Stanley's Asian prime brokerage, to launch the new firm. The firm is also planning
to open an office in Beijing.
1 Jun 2010
Portfolio manager Terence Lim has left Hong Kong-based Sofaer Capital and rejoined Goldman
Sachs to head up asset management sales in Korea.
26 May 2010
Imperia Investment Group plans to launch the Imperia Asia Offshore Fund, an event-driven
strategy. Imperia also plans to open a Hong Kong office and has hired Amy Zhang (ex-Blackstone,
SAC) to run the new office and manage the Greater China investments for the new pan-Asia fund.
21 May 2010
US$6 billion multi-strategy hedge fund manager CQS has been named Asset Manager of the Year --
Alternative Investments at the AsianInvestor 2010 Investment Performance Awards. US$300bn+
China Investment Corporation was named Institutional Investor of the Year.
19 May 2010
Alexis Fosler, formerly of Citi’s prime brokerage unit in Singapore, has joined Omnium, Citadel’s
fund-administration business. She is based in Hong Kong and will be in charge of sales in Asia.
US$800m Boyer Allan Investment Management is setting up the Boyer Allan Asian Long Short UCITS
in June.
Patrick Hugh (ex-CLSA, Chirin Capital, Altai Capital) is launching a new Asia equity macro fund with
his new firm Argun River Asset Management. Argun has been seeded by Penjing.
New York-based US$400m volatility specialist Titan Capital Group is opening an office in Hong Kong
and relocating Kyle Chuang from New York to head up the office.
US$2.5bn New York-headquartered tech and media hedge fund Coatue Management, is considering
setting up a presence in Hong Kong or Shanghai. The firm’s founder is Philippe Laffont (ex-Tiger).
Chris Hsu (ex-Abax Global, Citadel) has set up Kilometre Capital Management in Hong Kong with
seed money from Paloma in the US.
18 May 2010
Hong Kong-based Chater Capital Advisors has set up the Chater Asia-Pacific Event-Driven Fund which
is managed by Kevin Chan (ex-Scoggin Capital Management).
17 May 2010
Leon Hindle and Fredric Teng (both ex-Lehman) have set up Oracle Investment Fund, an Asian
structured credit hedge fund, in Hong Kong.
7 May 2010
The average size of hedge fund launches in Asia in 2009 was US$40m, down from US$80m in 2007,
according to GFIA’s Peter Douglas. 70% of the hedge funds launched in Asia in 2008 and 2009 had
US$50m or less in AUM as of 31 March, 2010.
Fortress, who closed its Hong Kong office last June, has opened a new office in Singapore. It has
also kept its trading office in Tokyo open.
5 May 2010
UBS Asia-Pac capital introduction boss Hugh Abdullah is moving to Morgan Stanley and is bringing
Claudia Kwick with him. They will have pan-Asian roles and be based in Hong Kong.
4 May 2010
James Packer-backed Ellerston Capital has closed its Hong Kong office and moved all of its
operations to Sydney.
30 Apr 2010
Mick Millard, formerly head of UBS’s Australian equities sales desk in New York, has joined Trafalgar
Capital to manage the firm’s new Hong Kong office.
28 April 2010
Citi's prime finance group has appointed eight new executives in Asia Pacific, spread across Hong
Kong, Singapore and Sydney. The five new hires in HK are Simon Ng (ex-HSBC), Dagmar Baeuerle
(ex-Crown Advisors International), Kenneth Leung, Mattan Lurie (ex-CITIC Securities, Hony Capital)
and Becky Yang (ex-Lehman).
27 Apr 2010
Hong Kong-based Myo Capital is launching a new special situations fund with a US$150 million seed
investment from DBS Bank in Singapore. As part of the deal, DBS will get a minority stake in Myo
Capital.
26 Apr 2010
Hong Kong's Securities and Futures Commission has applied to bar Tiger Asia, a New York-based
hedge fund, from trading in Hong Kong. This follows earlier allegations of insider trading against the
firm.
23 Apr 2010
E Fund Management, China's second largest asset manager, has opened a Hong Kong office,
managed by Nathan Lin, and plans to manage alternative investment funds from the new office.
Huimin Wu (ex-Prime Capital, State Street Global Advisors) has set up TriVest Advisors to launch a
China multi-strategy fund. TriVest has offices in Hong Kong and Shanghai.
Fuh Hwa SITE Asset Management in Hong Kong) has launched a China small-cap fund. Don Kan is
portfolio manager of the new fund.
22 Apr 2010
The AsianInvestor 2010 Investment Performance Awards hedge fund winners have been announced.
They include CAI Global Fund (Asia-Pacific), ROCIM Asia Opportunity Fund (Asia ex-Japan), Prowess
of Japan (Japan), Trophy LV (long/short equity), Phalanx Japan-AustralAsia Multi-Strategy Fund
(multi-strategy), Vegasoul Fund (CTA/managed futures), 3DPropCo (distressed/special situations),
Richland Emerging Opportunities Fund (event driven), Ocean Capital China Macro Fund (macro), Brim
Asian Credit Fund (new launch), Dynamic Equity Partners (India), Galaxy China Deep Value Fund
(Greater China) and Centar Investment Group Asia (fixed income/credit).
15 Apr 2010
Lyxor Asset Management has added the Lyxor/Martin Currie China Dragon Fund to its managed
accounts platform. Martin Currie created the fund specifically for the Lyxor platform.
The Hong Kong Monetary Authority will reportedly invest more of its reserves in hedge funds.
14 Apr 2010
Russell Investments has hired Joey Chao-Yu Chen (ex-Morgan Stanley) as a business development
director in Taiwan.
SAIL Advisors, the Hong Kong-based funds of hedge funds arm of the Search Investment Group,
won the Global Multi-Strategy (US$500m-$1bn) category for its Topaz multi-strategies fund at the
annual InvestHedge Fund of Hedge Funds Awards ceremony recently held in New York. SAIL was also
selected as the Best Fund of Hedge Funds House in Hong Kong by Asia Asset Management Best of
the Best Awards.
13 Apr 2010
Dalton Investments, headquartered in Los Angeles, plans to open an office in Shanghai later this
year. It already has a Tokyo office.
5 Apr 2010
Pacific Century Group has bought New York-based asset management firm PineBridge Investments.
PineBridge has US$87.3 billion in assets under management, including a substantial alternative
investments business.
4 Apr 2010
Top 10 Asian fund launches in 2009
1. ChinaRock Capital, Multi-Strategy, Sep-09, $400m
2. Senrigan Asia, Event-Driven, Nov-09, $220m
3. Prudence Enhanced Income Fund, Fixed Income, Jan-09, $150m
4. PK Japan, Long Short Equity, Oct-09, $212m
5. Dymon Asia Macro Fund, Macro, Aug-09, $125m
6. Temujin Model Portfolio, Multi-Strategy, Jan-09, $125m
7. Karakoram Fund Ltd, Long/Short Equity, Jul-09, $124m
8. Sumitomo Tactical Equity Concepts Japan Fund, Long Short Equity, Jun-09, $108m
9. Tactical Equity Concepts - Japan Fund, Long/Short Equity, Jun-09, $106m
10. Henderson Asia Pacific INC Absolute Return Fund, Long Short Equity, Jul-09, $103m
28 Mar 2010
Stock analyst Ferdinand Cheuk has joined SAC in Hong Kong.
23 Mar 2010
London-headquartered hedge fund manager Algebris Investments plans to open an office in Asia.
The US$1.6 billion shop is apparently choosing between setting up in Hong Kong and Singapore.
Hmmm...Lan Kwai Fong versus Clarke Quay? Dim sum versus chili crab? Big decisions.
11 Mar 2010
HAN Capital, founded by ex-SAC portfolio manager John Liu, is launching its second fund, the
Greater China IPO Fund.
10 Mar 2010
Nyree Hu has joined CQS, a global US$6.6bn hedge fund manager, in Hong Kong. She was
previously at Ecofin and UBS Wealth Management.
9 Mar 2010
Hong Kong-based Nine Masts Capital plans to launch a relative-value capital structure arbitrage fund.
Nine Masts Capital’s CIO is Wang Bing (ex-head of Deutsche Bank’s Saba Principal Strategies in
Asia) and he is joined by James Tu (ex-DKR Oasis, Merrill Lynch), Ron Schachter (ex-Saba) and Glyn
Treasure (ex-J.P. Morgan).
8 Mar 2010
DE Shaw is understood to be opening offices in Shanghai and Tokyo in the coming months.
4 Mar 2010
Ken Griffin’s Citadel is understood to have cut four of the ten people working in its Asian special
situations team.
3 Mar 2010
Anthony Correa and Hani Abuali (both ex-Polygon) reportedly plan to launch a pan-Asian hedge fund
in the coming weeks. The new fund manager, Black’s Link Capital, will be based in Hong Kong.
22 Feb 2010
Moore Capital, Maverick Capital, Viking Global Investors and Stark Investments are reportedly
planning to open offices in Asia during the spring.
Cheetah Investment Management has launched a feeder fund, aimed at Hong Kong family offices,
giving access to Jim Leitner's JL Falcon Global Fund.
Algebris Investments, the US$1.5 billion London-based manager, is considering opening an Asian
office in Hong Kong.
Income Partners, with US$500 million in firm AUM, has launched the IP Asian Opportunities Fund
platform. The platform will focus on special situations/event-driven strategies in Asia. Income
Partners has teamed up with Deutsche Bank and HSBC to launch the platform.
Franco Ngan Wai Wah (formerly CEO of Value Partners and Chairman of Sensible Asset
Management) has established Zeal Asset Management which will focus on value investing,
fundamental research and bottom-up stock-picking.
17 Feb 2010
Balyasny Asset Management, the US$2 billion Chicago-headquartered multi-strategy hedge fund
manager, plans to add between two and four portfolio managers in its Hong Kong office.
12 Feb 2010
Munsun Asset Management has launched its first hedge fund, the Munsun China Opportunity Fund.
11 Feb 2010
Orchard Capital Partners, a spin-off from Stark Investments, launched a new pan-Asia long/short
fund, Orchard Gemini, in January.
5 Feb 2010
Thor Monsen (ex-NewFinance) has joined Cadogan in a hedge fund research role.
2 Feb 2010
GFIA, Peter Douglas' hedge fund of funds and research shop in Singapore, has cut its coverage of
most mainland China-based funds due to their lack of transparency.
29 Jan 2010
Barry Lau has left BNP Paribas to set up CIGMA together with Geoffrey Lam (ex-Shenyin Wanguo
Asset Management). CIGMA plans to run a managed accounts platform for mainland Chinese fund
managers.
26 Jan 2010
Harvey Twomey at Deutsche’s Asian prime brokerage has hired Diana Yang (ex-Merrill Lynch, NYSE
Euronext) in a combined capital introduction and sales role.
25 Jan 2010
Anders Jacobsen (ex-Bankers Trust, Chase Manhattan) and Paul Thompson (ex-Goldman Sachs,
Prudential, SGI Management) plan to launch Galileo Capital Management. The firm will be
headquartered in London with additional offices in Hong Kong and Luxembourg.
22 Jan 2010
Morgan Stanley has recruited Jenkin Leung as its new head of capital raising in Asia. He was
previously CEO of hedge fund manager Hindsight in Hong Kong and managing director at Lehman
Brothers.
20 Jan 2010
Tokyo-headquartered Sparx Asset Management will distribute its hedge funds outside of Japan
through Hong Kong-based Triple A Partners.
19 Jan 2010
Credit Suisse continues to build its Asian prime brokerage which now employs around 100 people. It
has recently recruited Deborah Lee (ex-Goldman Sachs) in a capital introduction role. Reportedly the
firm will increase its Asian prime brokerage headcount by up to 20%.
WIM Asset Management has set up a socially-responsible investment hedge fund focused on
Greater China. Portfolio manager for the WIM Sustainable SRI Master Fund is Wu Jun.
Hong Kong-based Pangu Capital plans to launch its first hedge fund in the coming months. Portfolio
managers Anthony Tse (ex-Gandhara Capital) and Simon Hwang (ex-Ludgate Hill Investment
Management) will focus on investments in Greater China.
18 Jan 2010
The second Hong Kong Hedge Funds Club networking event will take place at the China Club on
March 18.
15 Jan 2010
Soros Fund Management and GLG Partners both plan to open offices in Hong Kong according to
industry sources.
13 Jan 2010
Hong Kong-headquartered FoFs manager SAIL Advisors plans to launch a distressed asset fund.
Tiresias Capital plans to launch an event-driven Asian fund. The fund will be managed by Matthew
Moskey, formerly head of the Hong Kong office of Centaurus Capital.
11 Jan 2010
Silver Spring Capital Management in Hong Kong will be launching a new China equity long short
strategy in Q1 2010. The investment team is led by Leping Wang (CEO & Portfolio Manager) and
Sanjay Khanduri (Portfolio Manager).
9 Jan 2010
Tokyo-based Atsuko Tsuchiya (ex-Sparx, Citadel, Merrill Lynch) plans to launch a new Japanese
event-driven fund, the Atom Japan Alpha Fund, in March. Hong Kong-based Penjing Asset
Management is the anchor investor for the new fund. Stan Howard’s Gordian Capital in Singapore will
be the manager of the fund with Atsuko Tsuchiya’s Atom Capital Management as the investment
advisor.
8 Jan 2010
Penjing Asset Management and Triple A Partners have joined forces to raise funds for emerging
hedge fund managers. The Penjing Triple A Partners Emerging Managers Fund is a modified version
of the existing Penjing Seed Fund. The seed fund will invest in hedge fund managers in the Asia-
Pacific region.
7 Jan 2010
New York-headquartered multi-strat shop Sandell Asset Management, headed by Thomas Sandell
(ex-Bear Stearns), has closed its Hong Kong office.
6 Jan 2010
Peter Bennett, formerly of Gottex, has joined Quant Asset Management as an independent director
of two of its hedge funds.
17 Dec 2009
After ten years at PIMCO, Changhong Zhu will leave the firm to become CIO of the Reserve
Management Department of China’s State Administration of Foreign Exchange (SAFE).
9 Dec 2009
SAIL Advisors, the Hong Kong-headquartered fund of funds manager, is setting up an office in New
York to research US-based hedge fund managers. Mike Tomlinson, Jeff Tomlinson, Chris Solarz and
Shaunak Amin will work in the new office and they are all joining from ING.
4 Dec 2009
Fund of funds manager StoneWater Capital is looking to hire a marketer for its Asian fund of funds.
2 Dec 2009
US$7 billion hedge-fund manager Stark Investments is starting over in Asia. Following the recent
management buy-out of its Asian operations (now called Orchard Capital Partners) the US-
headquartered firm is now hiring for a new Hong Kong office.
1 Dec 2009
Morgan Stanley has rehired Scott Ashton for its prime brokerage unit in Hong Kong. He left the firm
in 2008 to join Blackstone.
26 Nov 2009
Neuberger Berman is considering seeding Asian hedge funds as part of its expansion in Asia.
18 Nov 2009
Bill Lu, formerly of Tudor Investment Corporation, has been hired by US$300 billion sovereign wealth
fund China Investment Corporation to manage its hedge fund investments.
12 Nov 2009
Hong Kong-based hedge fund manager Galaxy Asset Management plans to launch the Galaxy China
Special Situations Fund. Joseph Chu (ex-CLSA) and Freeman Yim (ex-Rabobank) will be the main
portfolio managers.
10 Nov 2009
Affiliated Managers Group (AMG) has bought a 5% stake in Hong Kong-based hedge fund manager
Value Partners Group. Value Partners has an AUM of US$4.6 billion. AMG plans to open a Hong Kong
office in 2010.
9 Nov 2009
The hedge fund industry in Hong Kong now employs an estimated 4,000 people, according to an
AIMA survey. About half of the 4,000 people work in hedge fund fimrs while the other half is
employed by service providers to hedge funds.
4 Nov 2009
Michael Mills, formerly a capital introductionist at Citi and UBS in Hong Kong and Tokyo respectively,
has joined Orchard Capital Partners as director of marketing and client relations. Orchard is the Asian
spin-out from Stark Investments.
Asian hedge fund assets have increased to US$73.7 billion in the third quarter of 2009, according to
a report by Hedge Funds Research Inc.
26 Oct 2009
Activist hedge fund manager TCi (The Children’s Investment Fund) has apparently shut down its
Asian office in Hong Kong last week. This follows the departure earlier this year of John Ho, its head
of Asian investments.
23 Oct 2009
Anthony Correa (ex-head of Polygon in Hong Kong) is launching a new event-driven hedge fund
called Black's Link.
22 Oct 2009
Hong Kong-based Brooke Capital has hired two analysts: Emerald Kwai and Yongxin Zhang.
20 Oct 2009
Grace Foo (ex-DKR Oasis) has joined Ajia Partners as Head of Research. Kelvin Cheng
(ex-Citi) has also joined Ajia.
Stark Investments, the US-headquartered US$7.5bn hedge fund manager, is losing its
Asian teams in Hong Kong and Singapore. Portfolio managers Stu Wilson and Teall Edds
are taking over funds, offices and people and naming their new business Orchard Capital
Partners.
19 Oct 2009
Hong Kong-headquartered PMA has launched the PMA India Fund which is managed by
Anoop Villait.
Galaxy Asset Management, headed by Joe Chan, is rolling out the Galaxy China Deep
Value Fund.
Senrigan Capital, headed by Nick Taylor (ex-Citadel and Modal), has reportedly received
US$150m of seed money for a new event-driven fund from Blackstone. Senrigan is
expected to launch in November with US$220m in AUM which would make it one of the
largest Asia-focused hedge fund launches in 2009.
Ajia Partners in Hong Kong has teamed up with Impax Asset Management in the UK to
launch a fund focused on Asian companies that will benefit from the fast growing
environmental market. David Li and Bruce Jenkyn-Jones will co-manage the fund.
Samena Capital and Argyle Street Management, the Asian debt specialist, have jointly
launched an Asian bond fund.
16 Oct 2009
Paul Choi (ex-Cheyne Capital) has joined Enhanced Investment Products in Hong Kong.
15 Oct 2009
As of March 2009, Hong Kong is home to 209 active hedge-fund management firms that
manage a total of 542 funds and US$55.3 billion in assets (down from US$90.1bn in March
2008), according to Hong Kong's Securities and Futures Commission.
8 Oct 2009
Raaj Shah (ex-Och-Ziff) has launched the Matchpoint Asia Fund at close to US$50m. The
investment team, based in Hong Kong, will invest in under-researched and mis-priced
Asian securities.
7 Oct 2009
FRM Capital Advisors, FRM's seeding arm, has made its first investment in an Asian hedge
fund. It has invested an undisclosed amount in Isometric Capital Management, headed by
Sanjiv Bhatia (ex-Deephaven and Goldman Sachs).
6 Oct 2009
Ted Lee is understood to have left Sparx's fund of hedge funds business in Hong Kong.
2 Oct 2009
The Hong Kong-based Greater China hedge fund manager Triskele Capital has launched
a convertible bond fund. The portfolio manager is Shiba Tsuyoshi and the fund's AUM is
US$30m.
29 Sep 2009
London-based hedge fund manager Capula Investment Management has reportedly won a
US$200m mandate from China Investment Corporation.
25 Sep 2009
Cranmore Capital Advisers, Kurt Baker's hedge fund platform, has hired Ben Homer (ex-
Elliott Advisors) as COO.
23 Sep 2009
John Liu (ex-SAC) at HAN Capital Management is launching a Great China focused equity
long/short arbitrage fund with two partners. The fund is the first quantitative market neutral
fund in China to arbitrage short-term market inefficiency across China A shares and Hong
Kong H shares. HAN Capital will open an office in China in addition to its New York
headquarters.
Nathan Davison (ex-Merrill Lynch) has been hired by Deutsche to co-head Asian prime
finance.
22 Sep 2009
Kamni Bharwani, who left SAIL earlier this year, has turned up at Rockhampton's fund of
funds business, where she is reunited with old mate Denise Hu.
18 Sep 2009
Omnix Capital in Hong Kong has launched the Omnix Multistrategy Fund with an initial AUM
of US$20 million. Joint portfolio managers are Paul Penkett and Stephen Cheng (both ex-
Lehman). Carl O'Connell (ex-DKR Oasis and TPG Axon) has joined them as COO.
16 Sep 2009
Rocco Paduano (ex-HSH Investment Partners, Goldman Sachs and Morgan Stanley) has
joined Credit Suisse as Asia-Pacific COO for prime services.
15 Sep 2009
Hong Kong-based fund of hedge funds manager Vision Investment Management has
bought a majority stake in Harmony Capital Managers, an event-driven hedge fund
manager.
10 Sep 2009
Bank of China is reportedly planning to launch a fund of hedge funds in 2010.
7 Sep 2009
Hong Kong-based Pacific Century Group, owned by Richard Li, is taking over AIG's
investment advisory and asset management business.
4 Sep 2009
The Financial Supervisory Commission (FSC), Taiwan's regulator, is stepping up its efforts
to control the marketing activities of unregistered offshore investment providers. The FSC
has recently started a campaign to warn local investors not to invest with unlicensed
providers. The FSC campaign also aims to remind offshore investment providers that all
unlicensed marketing activities in Taiwan are illegal.
3 Sep 2009
Next month, SYWGAM is launching its first Chinese fund of funds, the SWS China
Transformers Fund. The new fund of funds will invest with fund managers based in the
People's Republic of China and aims to provide exposure to local Chinese absolute return
funds for international investors. SYWGAM is a subsidiary of Shenyin & Wanguo Securities
Co.
30 Aug 2009
China Investment Corporation, China's sovereign wealth fund, is investing billions of
dollars in hedge funds and private-equity funds, according to its chairman, Lou Jiwei. The
fund has a total of US$297.5 billion in assets, most of it in cash and cash equivalents.
22 Aug 2009
According to a report by Hedge Fund Research, 24% of Asia-focused hedge funds are now
located in Greater China.
21 Aug 2009
New York-based hedge fund Tiger Asia Management is being accused of insider trading by
the Securities and Futures Commission, the Hong Kong regulator. According to the SFC,
three senior Tiger Asia employees used insider information to sell short shares in China
Construction Bank.
19 Aug 2009
The Hong Kong-based Minerva Macro Fund has received a seed investment of US$50m
from Man Investments. Minerva is run by Stanley Ku (ex-Fortress) and Dorothy Lau (ex-J.P.
Morgan and Goldman Sachs).
18 Aug 2009
HedgeFund.net's HFN China Average hedge fund index was +10.84% in July and +35.61%
YTD.
12 Aug 2009
Roger Lee (ex-Nikko Asset Management in Singapore) has joined Tarascon Capital, a
Hong Kong-based US$30 million hedge fund set up in 2007 by Jonathan Iu.
UBS has appointed Ashley Jarvis as Asia-Pacific head of prime broker sales. He will be
based in Hong Kong.
3 Aug 2009
Carol Shing has left Marco Polo Pure Asset Management in Hong Kong.
The Securities and Futures Commission, the Hong Kong regulator, is considering making
short selling reporting mandatory.
2 Aug 2009
Danny Hegglin (ex-Morgan Stanley) has joined TT International, a US$3 billion hedge fund
firm, as partner. Hegglin will continue to be based in Hong Kong to lead TT's Asian
business.
31 Jul 2009
Citigroup has appointed Rimmo Jolly to the newly created position of the head of prime
finance sales and capital introduction for Asia Pacific. Jolly will relocate from San Francisco
to Hong Kong to take up the new role.
Hong Kong-based distressed/special situations manager ADM Capital will launch a new
fund at the end of August with US$100 million of seed capital from an American institution.
30 Jul 2009
China Investment Corporation will invest US$700m with the funds of hedge funds of
Blackstone and Morgan Stanley Investment Management.
28 Jul 2009
Joanne Bryant-Rubio, ex-CLSA and Atlas Capital, has joined Merrill Lynch's prime
brokerage in Hong Kong in an Asian capital introduction role.
27 Jul 2009
Bob Howe's Hong Kong-based fund management company Geomatrix has re-launched its
Akamai Pan-Asia Fund as the Opera Pan-Asia Fund in early July. This follows the recent
acquisition of Geomatrix by financial consulting company Opera Solutions. The investment
team has been expanded by the addition of trader Oliver Zeng (ex-Susquehana and State
Street).
23 Jul 2009
Hong Kong-based Liu Yang, who heads Atlantis Investment Management's China
business, has also taken over as chairman of and chief investment officer of Atlantis, a
US$2.6 billion asset manager. She replaces Tony Jordan who has recently left Atlantis.
Hong Kong-based fund of hedge funds manager Persistent Edge has hired Peter Wu (ex-
BNP Paribas, Societe Generale, ABN AMRO, China Everbright Bank, Bank of China) as an
executive director responsible for marketing and investor services in the Greater China
region.
20 Jul 2009
Hong Kong hedge fund Tribridge Investment Partners has hired John Liptak (ex-Bank of
America) to manage its new Tribridge Asian Special Situations Fund, which is planned to
launch in August.
Ryan Fong Yen-hwung, formerly a portfolio manager at Hong Kong hedge fund HSZ, has
been sentenced to one year in jail and a fine of HK$1.4 million for insider trading.
14 Jul 2009
Winton Capital Management, a London-headquartered hedge fund manager with US$12
billion in AUM which opened a Hong Kong office last December, is looking to hire one or
two researchers with a focus on the Chinese markets.
10 Jul 2009
Ronnie Wu, CIO of fund of funds manager Penjing Asset Management in Hong Kong, plans
to start seeding early stage Asian hedge fund managers in August. Earlier seeding deals
by Penjing have been in the US$5 million to US$15 million range, while the new seeding
effort may invest up to US$25 million.
9 Jul 2009
Benjamin Happ, formerly head of business development at hedge fund Abax Capital in
Hong Kong and Morgan Stanley' prime brokerage in New York, has joined Credit Suisse's
Asian prime brokerage in a capital introduction capacity.
Ryan Fong, ex-hedge fund HSZ, has admitted to insider trading of Hong Kong-listed shares
of Media Partners International Holdings in 2005. He will be sentenced next week.
8 Jul 2009
Eddie Kir, formerly of China Everbright Asset Management, has joined Shenyin Wanguo
Asset Management as Sales & Marketing Director. Shenyin Wanguo plans to launch a
China themed hedge fund in the near future.
6 Jul 2009
Raymond Foo (ex-Brevan Howard) has joined Veritas Asset Management as a senior
analyst in Hong Kong. Veritas has US$1.6 billion in AUM and manages both hedge funds
and long-only funds.
3 Jul 2009
Tahan Capital Management is launching a hedge fund investing in Asian high yield and
distressed securities, credit long/short, and macro strategies. Tahan is headed by Ng Yong
Ngee and the senior management team also includes Chia Tse Ern (ex-GLG, Jabre
Capital); Bryan Choo (ex-Schroders, UBS); Charles Ooi (ex-HSBC, UBS) and Joseph Lam
(ex-Deutsche Bank, Morgan Stanley).
1 Jul 2009
Scott Krusemark, formerly Asian director of Deephaven Capital in Hong Kong, has joined
Victory Park Capital as CFO.
29 Jun 2009
Asia's 25 biggest hedge funds as of April 1, 2009
1. Sparx Group (Tokyo) US$4.82bn
2. Value Partners (HK) US$3.19bn
3. Artradis Fund Management (Singapore) US$2.722bn
4. ADM Capital (HK) US$2.2bn
5. Arisaig Partners (Singapore) US$1.996bn
6. Penta Investment Advisers (HK) US$1.910bn
7. Pacific Alliance Investment Management (HK) US$1.450bn
8. Target Asset Management (Singapore) US$1.400bn
9. Aisling Analytics (Singapore) US$1.186bn
10. Ortus Capital Management (HK) US$805m
11. LIM Advisors (HK) US$800m
12. Tree Line Investment Management (HK) US$760m
13. JL Capital (Singapore) US$618m
14. Sofaer Capital (HK) US$610m
15. Symphony Financial Partners (Singapore) US$600m
16. Asia Genesis Asset Management (Singapore) US$599m
17. Tower Investment Management (Tokyo) US$581m
18. Ward Ferry Management (HK) US$575m
19. Income Partners Asset Management (HK) US$520m
20. Lapp Capital (Singapore) US$500m
21. UG Investment Advisers (Singapore) US$496m
22. Argyle Street Management (HK) US$458m
23. Abax Global Capital (HK) US$455m
24. Brooke Capital (HK) US$450m
25. Asuka Asset Management (Tokyo) US$428m
Source: Alpha Magazine
Melbourne-based Kima Capital, headed by Justin Klintberg (ex-Marble Bar), is launching a
pan-Asian long/short fund this week. The bulk of the fund's assets will be invested in
Australia, Japan, Hong Kong, China and Singapore. KIma's Asian strategy combines
arbitrage, event driven and corporate events. Klintberg has recruited Michael Gallagher (ex-
Macquarie Bank and Rand Merchant Bank) as CEO. The fund will be launched with A$15
million in AUM.
26 Jun 2009
Masaki Taniguchi has been appointed the new President of Sparx Asset management,
Asia's largest hedge fund manager. Taniguchi-san previously ran Sparx's Hong Kong office
and prior to joining the firm he was at Goldman Sachs Asset Management.
25 Jun 2009
Shanghai Securities News has reported that the China hedge fund industry now has over
RMB20 billion in assets under management.
24 Jun 2009
Sumitomo Trust Finance in Hong Kong has launched a new Japanese equity long/short
fund. The Tactical Equity Concepts-Japan Fund is being seeded by Sumitomo Trust &
Banking, Japan's fifth largest bank, with just over US$100m.
Aksia, with offices in the US and Asia, has won Institutional Investor magazine's Hedge
Fund Consultant of the Year Award.
23 Jun 2009
Charlotte Stopford Sackville is no longer with Stark Investments. She was the firm's Hong
Kong-based investor relations person for Asia.
Ryan Bacher, Asian co-head of prime brokerage at Deutsche, has resigned. He is
reportedly joining Barclays Capital in a senior prime brokerage role in Asia.
18 Jun 2009
Felix Chee, adviser to China Investment Corporation, the US$200 billion sovereign wealth
fund, said at an industry conference that it aims to make investments in hedge funds
through managed accounts in the near future.
Kurt Baker, formerly Asian head of Morgan Stanley's prime brokerage, has revealed that he
intends to launch a hedge fund platform in Hong Kong in the near future.
16 Jun 2009
Hong Kong-based FoFs manager SAIL Advisors will take over the running of three ING
Alternative Asset Management FoFs funds. As part of the deal, Harold Yoon, CIO and head
of ING’s FoFs business will also join SAIL as its new CIO. The current CIO, Eliza Lau, will
retire from her role but will remain as an advisor to the firm in the near term. SAIL will also
set up an office in New York.
11 Jun 2009
London- and Hong Kong-based mCapital (set up by Mark Devonshire, ex-Merrill Lynch) will
launch its European and Asian Special Situations Fund at the end of June. The strategy is
focused on stressed, distressed, recovery and development capital in Europe and Asia.
9 Jun 2009
Morgan Stanley is starting to build up its Asian prime brokerage...again. SAIL's Marcella Lui
has been hired as a capital introduction specialist in Hong Kong and Keiko Kawauchi has
returned to the firm she left last year to be in charge of cap intro in Japan.
3 Jun 2009
Vision Investment Management in Hong Kong has sold its seeding business, Vision Asia
Pacific, to Samena Capital in London. As part of the deal, Vision will become a shareholder
in Samena and Vision CEO Jerry Wang will join Samena's board. At the same time Vision
is expanding its core fund of funds business by hiring three marketing professionals in
New York and London.
28 May 2009
Deepstream Capital in New York is reportedly close to making a deal with Primus Financial
in Hong Kong for a US$200m seed investment for a distressed hedge fund. The fund will
be managed by Randy Barker and Geoff Coley (both ex-Citi). Hong Kong-based Primus
Financial was set up in April with US$1 billion from a wealthy family in Asia.
27 May 2009
UBS's Asian head of prime services, Matt Pecot, has joined Credit Suisse in a similar role.
21 May 2009
Abax Global Capital in Hong Kong, partly owned by Morgan Stanley, is opening its Tudor-
seeded Asian macro fund to outside investors. It also promises to refund part of its
performance fee if the fund loses money in the subsequent year.
19 May 2009
Jim Fallon, formerly a capital introductionist at Morgan Stanley, has joined the prime
brokerage business of Merrill Lynch in Hong Kong. He most recently had a stint at fund of
funds manager Tremont. He will be part of the Asia-Pacific financing sales team but also
handle capital introduction for Merrill Lynch's hedge fund clients.
15 May 2009
Asia-focused hedge funds have gained more than 8.5% YTD, including a 7% increase in
April, according to the HFRI Emerging Markets Asia ex-Japan Index.
The Blackstone Group has cancelled its plan to launch a US$1 billion Asian event-driven
hedge fund.
13 May 2009
Anderson Choi, previously of Triple A Partners and Shinko Securities, has joined the
Japanese institutional sales department of CITIC Securities International in Hong Kong.
12 May 2009
Bloomberg reports that Shafiq Karmali (ex-Goldman Sachs) plans to start an Asian equities
long/short hedge fund in August. Karmali's firm, Cypress Lane Capital, will be based in
Hong Kong.
10 May 2009
Brooke Capital in Hong Kong has hired James Cameron (ex-Pyrenees, Atlantis, Credit
Suisse) as an analyst to work on the East of Suez Fund, a long/short equity strategy.
8 May 2009
Income Partners Asset Management, a Hong Kong-based asset manager with US$620m,
has lifted its gates to allow investor redemptions again for the first time since October.
7 May 2009
New York-headquartered US$1.8bn credit hedge fund manager Claren Road has opened a
Hong Kong office. Richard Chun and Desmond Chum (both ex-Citi) have joined Claren
Road as portfolio managers in the new Asian office.
AIMA Hong Kong claims that Hong Kong is the largest hedge fund centre in Asia with
managers in the city overseeing US$22bn in AUM as of last December. Yes, perhaps, but
what about the pollution and all the noise? We still prefer Tokyo to Hong Kong. According to
AIMA, Hong Kong had 245 hedge fund managers at the end of 2008 and there were 30
hedge fund startups in Hong Kong in 2008.
6 May 2009
Hong Kong-based Enhanced Investment Products yesterday launched a new fund
investing in Asian high-yield convertible bonds with an initial AUM of US$17m. The PM is
Yvon Choi and the firm is also planning on hiring a senior credit and equity analyst for the
new fund.
30 Apr 2009
Kamni Bharwani, hedge fund analyst at fund of hedge funds manager SAIL in Hong Kong
for the past three years and prior to that a financial journalist, left the firm last month. Where
is she sailing? We've got an idea...
AsianInvestor magazine has announced the winners of its 2009 Investment Performance
Awards for institutional funds management. The winner in the Greater China category is
Triskele China Fund and Persistent Edge won the Asian FoFs house award.
Eurekahedge's Asian Hedge Fund Awards 2009 (to be held in Singapore on 29 May) has
released the shortlist for the Best Greater China Hedge Fund award: Credence Oriental
Partnership, Dragon Billion China Fund, LBN China + Opportunity Fund, Northwest China
Opportunities Fund, QBridge Fund, Spitzer Dragon Fund, Tairen China Fund and Triskele
China Fund.
29 Apr 2009
The Securities & Futures Commission in Hong Kong has been granted an injunction order
by the High Court to freeze more than US$110 million in assets of Hong Kong-based
hedge fund Descartes Athena Fund on suspicion of fraud.
27 Apr 2009
Credit Suisse Asset Management has appointed Conrad Yan (ex-AIG Investments) to
manage distribution of alternative investment products in Asia. Yan is based in Hong Kong.
Sail Advisors, the US$1.8bn Hong Kong-based FoFs shop, has hired Miodrag Janjusevic
as chief risk officer. Janjusevic, who is replacing Jeff Nie, joins from Deutsche Bank where
he was director of strategic solutions. Prior to Deutsche he spent 15 years at J.P. Morgan.
15 Apr 2009
John Ho, the Asian head of activist manager The Children's Investment Fund, is apparently
leaving the firm.
14 Apr 2009
Rockhampton Management is launching a fund of funds platform in Hong Kong. They have
recruited Denise Hu from SAIL to lead this new initiative.
10 Apr 2009
According to Asian Investor, former Hindsight portfolio manager Man Wing Chung is
rumoured to be making a return to the alternatives industry with a new Greater China hedge
fund he is launching together with LV Jun (ex-CIO at China International Fund Management)
and Taiwan specialist Peter Tang.
Thor Monsen has left the Hong Kong office of FoFs NewFinance Capital where he was a
senior hedge fund analyst.
9 Apr 2009
Hindsight Asset Management in Hong Kong is launching an Asian convertible bond
strategy together with Hamon Investment Group in a new joint venture called HSH
Investment Partners.
8 Apr 2009
According to The Wall Street Journal, the Church Pension Fund, a US$8 billion pension
fund serving the Episcopal Church, is opening a Hong Kong office. Eric Mason (ex-Carlyle
Group) has been hired to head the new office. The Asian office is understood to be covering
all asset classes including private equity, real estate and hedge fund investments in Asia.
1 Apr 2009
According to The Wall Street Journal, US hedge fund manager Och-Ziff Capital
Management will take a loss of about half of their investment in the Fisherman's Wharf
theme park and casino development project in Macau. It is believed that the fund manager
may withdraw from the project as the expected public stock offering in Hong Kong and a
planned doubling of the park size failed.
26 Mar 2009
Funds of hedge funds Persistent Edge China Partners Fund and Persistent Edge Asia
Partners Fund returned +3.53% and +2.21% respectively during the January to February
period. China Century Fund did +1.26% and Adept Capital +1.25% during the same period.
23 Mar 2009
Alleged hedge fund fraudster Albert Hu was arrested in Hong Kong last week. Hu reportedly
ran a number of fake hedge funds in California. Federal prosecutors in the US have
charged him with stealing millions from clients and lying about the safety of their
investments, promising annual returns of up to 30%. According to the prosecutors, Hu
wired the money received from investors to bank accounts in Singapore, Hong Kong and
Taiwan. The sham hedge fund management companies used by Hu included Asenqua
Capital Management, AQC Asset Management and Fireside Capital Management.
16 Mar 2009
London and Hong Kong-based hedge fund frim mCapital has appointed Banny Leung (ex-
Merrill Lynch) as senior partner in Hong Kong. Leung will be responsible for Asian special
situations.
13 Mar 2009
Xela Capital, a Taiwan-focused hedge fund managed by James Carroll, has been shut
down after running for a year. The fund significantly outperformed its benchmark index, but
factors such as the fund's small AUM and Taiwan's introduction of a shorting ban made it a
difficult strategy to run successfully. James Carroll is understood to be working on a new,
broader strategy to be launched later this year.
6 Mar 2009
Edwin Wong has founded SSG Capital in Hong Kong, which will manage an Asian
distressed investment strategy. Wong is joined at SSG by six of his former Lehman
Brothers colleagues.
2 Mar 2009
Ajia Partners, a Hong Kong-based hedge fund incubator and fund of funds, has launched a
new CTA-focused FoFs, the Explorers Fund.
24 Feb 2009
Chin Yee Yap, ex-Asian head of structured credit markets at Nomura in Hong Kong, is
setting up his own hedge fund firm called Gemini Capital. Prior to Nomura he spent 14
years at Lehman Brothers.
22 Feb 2009
Neil Scrase, who left Gottex last year, has resurfaced at Ballingal Investment Advisors, a
hedge fund firm in Hong Kong with 9 staff members and US$360m under management in
two Asian multi-asset hedge funds, both with positive returns for 2008.
16 Feb 2009
Mark Fuchs, ex-head of Southeast Asian equities at Credit Suisse, has set up Fuchs
Capital Partners of which he is now the CEO and CIO. The new firm plans to launch an
Asian equity long/short fund this spring focused on the Asean region. Fuchs has recruited
Winston Loke from Credit Suisse and Mark Maroongroge (ex-HBK) to join him at the new
firm.
13 Feb 2009
Over 80% of Asian hedge funds can’t charge their investors performance fees after
finishing 2008 below their peak net asset values, according to Eurekahedge. An estimated
one-third of the 1,000 Asian hedge funds tracked by Eurekahedge delivered positive returns
in 2008. This compares to 82% in 2007.
11 Feb 2009
HK-based hedge fund firm Doric Capital Corporation has been bought by the management
team comprising of Howard Wong, Jeff Liu and Rajesh Ranganathan. The team is backed
by strategic investor Hamon Investment Group. Doric’s founder, Michael Nock, will remain
a board member and also keep a smaller stake in the company.
10 Feb 2009
Pinpoint Investment Advisor's Rising China Fund has seen its AUM drop by 69% following
the departure by a key portfolio manager. The fund now has US$83m in AUM. CIO Wang
Qiang has now taken over the portfolio management.
9 Feb 2009
AUM in Asian hedge funds continued to fall in Q4 of 2008. Hedge Fund Research estimates
that a decline of nearly US$16bn has left Asian hedge funds with just over US$71bn in AUM.
Assets invested in Asian hedge funds peaked at US$111bn at the end of 2007. The decline
in Asian hedge funds in the second half of 2008 was 28.9%.
4 Feb 2009
Is the Middle Kingdom bouncing back? Well, not exactly but at least some of its hedge
funds have had a decent start to 2009 after a terrible 2008. Pacific Sun's China Mantou fund
was down 52.2% in 2008, but up 3% in January, a month when indices tracking large cap
China stocks were down between 8% and 10% as cash hungry foreign banks unloaded
their strategic stakes in their mainland counterparts, following the end of three-year lock up
periods.
RAB Capital has sold its Asian subsidiary Northwest back to its former owners, George
Philips and David Rogers, who have been working at RAB Capital since RAB took over their
business in September 2006.
3 Feb 2009
Chua Sue-wan has been appointed deputy group treasurer at The Hong Kong Jockey Club.
He will take over from Keith Yuen who left at the end of 2008 to join Principal Financial
Group as COO for Greater China. Chua joins from SEI Investments where he most recently
was head of alternative investments. Earlier in his career he worked at Rothschild Asset
Management and the World Bank. He will report to group treasurer Jacob Tsang.
1 Feb 2009
The AUM of Value Partners has reportedly shrunk to around US$3bn as of end of November
figures.
29 Jan 2009
In a ranking of the 25 biggest single-manager hedge fund firms in Asia (as of March 31st
2008) twelve of the managers are HK-based:
2. Value Partners (HK) US$5.9bn
6. Tree Line Investment Management (HK) US$2.2bn
8. Ortus Capital Management (HK) US$2bn
9. Ward Ferry (HK) US$2bn
10. ADM Capital/Asia Debt Management (HK) US$1.9bn
12. Pacific Alliance Investment Management (HK) US$1.6bn
13. Penta Investment Advisers (HK) US$1.5bn
14. Lim Advisors (HK) US$1.4bn
15. Sofaer Capital (HK) US$1.1bn
18. Income Partners (HK) US$970m
19. Nezu Asia (HK) US$900m
22. Argyle Street (HK) US$820m
Source: Alpha/Institutional Investor
28 Jan 2009
Threadneedle Asset Management has said that it expects Chinese equities to outperform a
recovery in Asia stocks based on both Beijing’s policy flexibility and projected solid
consumer spending through the global recession.
23 Jan 2009
The HFN China Average Index of Greater China-related hedge funds was down -34.57% in
2008. In both 2006 and 2007 it was up more than 50% in each year.
22 Jan 2009
London-headquartered Ecofin expands in Asia by relocating Nyree Hu from London to
Hong Kong. Hu will head up Asian marketing and investor relations.
21 Jan 2009
Macquarie Funds Group and Jim Rogers have joined together to create an agricultural
commodities index that reflects changes in food consumption patterns in China . The
Macquarie and Rogers China Agriculture Index is an investable index that tracks changes in
the price of a basket of agricultural commodities most commonly consumed in China.
20 Jan 2009
US-headquartered hedge fund manager AM Investment Partners, has launched an Asian
volatility fund in Hong Kong. The fund is managed by Craig James who has joined AM from
Deutsche Bank. At launch the fund had attracted more than US$100m in AUM.
Barclays Wealth has appointed Joanna Chu as co-head of private banking in North Asia .
She joins from Hang Seng Bank.
Sun Hung Kai Financial has launched a recovery fund that will be managed by Paulson &
Co in New York . The fund will identify investment opportunities within a select group of
distressed global financial companies worldwide.
19 Jan 2009
Yvon Choi, who recently shut down his own hedge fund Middle Island Capital, has joined
hedge fund Enhanced Investment Products as a trader of convertible bonds and equity
derivatives. Choi was previously at BNP Paribas and Nomura.