 |  |  |  |  |  |  |
Hedge Funds Club
The Lion's Den
Singapore-related hedge fund industry news.
Singapore-related hedge fund industry news.
16 Jul 2010
Alex Ng has left Superfund in Hong Kong to join Reliance Asset Management in Singapore in a sales
role.
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
AUM in Singapore’s hedge fund industry was US$42 billion in 2009 according to the Monetary
Authority of Singapore’s annual Singapore Asset Management Industry Survey. The number of
Singapore-based hedge fund managers declined from 350 to 320.
6 Jul 2010
Mizuho Securities has hired Alastair Sclater (ex-UBS) to head its prime brokerage in Singapore.
5 Jul 2010
Peter Douglas of GFIA will step down as the Asia rep on AIMA’s council. Douglas was previously also
head of AIMA’s Singapore chapter.
1 Jul 2010
Cosmo Investment Management, the South Korean firm partly owned by Japan’s Sparx Group, has
hired S. Hahn Sull (ex-Oojoo Capital Partners in Singapore) as CEO. He replaces Kevin Choi,
Cosmo's founder, who left the firm in June. Cosmo has also promoted Min-Key Seo to CIO.
25 Jun 2010
Singapore-based RSR Capital plans to launch the Caerus Arbitrage Asia Fund, an Asian-focused
volatility fund. Christophe Delorme (ex-Newedge) is behind the frim together with a group of
derivatives traders from Goldman Sachs and Barclays Capital.
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.
Bank Sarasin & Co has named Damien Ng (ex-Credit Suisse, Merrill Lynch, Long-term Credit Bank of
Japan, Core-Pacific Yamaichi Bank, Nordea) as the new head of investment consulting at Bank
Sarasin-Rabo (Asia) in Singapore.
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.
Superfund has closed six of its international sales offices, including Singapore, and laid off staff to
cut costs.
10 Jun 2010
The Alithion Japan Fund will be launched on 1 July with seed money from Marubeni in Tokyo. Akira
Yaku, Kentaro Ishizaki and Kai Hoshino (all ex-Mizuho) are the brains behind the new Japan fund
which will be run from Singapore by Alithion Capital Management.
8 Jun 2010
David Forsyth has returned to UBS as head of the firm's prime brokerage in Singapore. He replaces
Alastair Sclater.
2 Jun 2010
Hans Goetti has left his position as CIO, Asia for LGT Bank in Singapore.
1 Jun 2010
Woori Absolute Partners and Fullerton Fund Management have launched the Woori Absolute Return
Investment Strategies Fund, an Asian-biased fund of funds.
25 May 2010
Prime Fund Solutions, the prime services unit that Fortis is in the process of selling to Credit Suisse,
has hired Jay Moghe (ex-Asian Alternative Consulting) and Martin Lui (ex-Citi) in Singapore.
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.
Following an investment from a major Dutch pension fund Cavenagh Capital is relocating from
Singapore to Amsterdam to launch a new Luxembourg-domiciled fund.
James Jung-Beck Kim has left Woori Absolute Partners and recently joined IBK as managing director
and head of proprietary trading. IBK Securities, part of the Industrial Bank of Korea, wants to
establish itself in the alternative investments space through new partnerships.
17 May 2010
Prudent Asia Capital Management, led by Hong Na, plans to start the Prudent Asia Balanced Fund,
an Asian credit hedge fund, later this year.
13 May 2010
Norges Bank Investment Management (NBIM), one of the world's largest sovereign wealth funds, is
opening an office in Singapore. This follows its Shanghai office opening two years ago. NBIM
manages some of the investments of the Norwegian Government Pension Fund, the Norwegian
central bank's foreign exchange reserves and the Government Petroleum Insurance Fund.
12 May 2010
Pádraig Hayes has been appointed the new managing director for Citco Fund Services in Singapore.
He was previously at the firm's Dublin office.
7 May 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.
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.
5 May 2010
Salus Alpha, the Switzerland-headquartered hedge fund manager mainly active in the global
macro/commodities space, is looking for a sales person for its Singapore office as it expands further
in Asia.
29 Apr 2010
Deep Kapur, managing director at hedge fund manager Symphony Financial Partners, is leaving both
the firm and the industry this week.
Douglas Isles has left Pengana's Singapore 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 two new hires in Singapore are Jun Chan (ex-Morgan Stanley),
Neil Toy (ex-Goldman Sachs).
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
London-headquartered Algebris Investments, with US$1.5 billion in AUM, has opened an office in
Singapore.
22 Apr 2010
The Monetary Authority of Singapore plans to launch a public consultation on its alternative
investment rules in May.
Albert Ee (ex-Millennium Management Asia, Tribeca and GIC) has set up Pilgrim Partners Asia. The
Pilgrim Asian Macro fund will launch on 3 May with about US$28m spread across the fund and some
managed accounts. Lawrence Lee (ex-Wilmar, GIC, Tribeca) has also joined the new firm.
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
Jason Wang (ex-GLG) and Simon Quirke (ex-Lionhart) have founded Iridium Asset Management in
Singapore which plans to launch an Asian commodity-linked stock hedge fund.
14 Apr 2010
Edmund Teo (ex-First State Investments, UOB Asset Management) has joined Russell Investments in
Singapore as regional director for sales and marketing.
9 Apr 2010
The next Singapore Hedge Funds Club Networking Evening will take place on Tuesday 7 September.
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
Barclays Capital is apparently recruiting for an Asian capital introduction team to be based in
Singapore. Definitely chili crab then.
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.
22 Mar 2010
Eurekahedge's annual Asian Hedge Fund Awards will be taking place in Singapore on 20 May. Award
judges are Peter Douglas (GFIA), David Walter (PAAMCO), Akane Hashimoto (HC Asset
Management), Richard Johnston (Albourne Partners) and John Know (LGT Capital Partners).
17 Mar 2010
The Eurekahedge Asia ex-Japan Hedge Fund Index returned an estimated -0.06% in February and
-2.69% YTD.
5 Mar 2010
Singapore plans to establish a hedge fund cluster in out-of-town location Nepal Hill. The Monetary
Authority of Singapore and JTC Corp are jointly marketing the proposed hedge fund cluster which
follows on from Singapore’s existing tax and regulatory incentives for hedge fund managers to set
up shop in Singapore.
3 Mar 2010
Justin Pollock and his old Galleon Asia team have joined CastleBay Capital Management where they
will run the new CastleBay Asia Long/Short Equity Fund.
2 Mar 2010
Paul Absalom (ex-Stockade Asset Management, HSBC) has joined Standard Chartered in Singapore
in a sales role. Absalom is also one of the founders of Teak Capital Partners.
23 Feb 2010
Aisling Analytics, Mike Coleman’s US$1.6 billion commodities hedge fund company, is launching an
equity long/short strategy which will focus on commodities and natural resources-related equities.
Tan Yi-Wa will manage the new fund.
22 Feb 2010
Moore Capital, Maverick Capital, Viking Global Investors and Stark Investments are reportedly
planning to open offices in Asia during the spring.
Singapore-based MAM, a Japanese family office, has set up its own internal proprietary Japan-
focused hedge fund.
3 Feb 2010
Woori Absolute Partners has shut down one of its hedge funds, the Woori Absolute Asia Multi-
Strategy Fund. Also, K.C. Song has been appointed the firm's new CIO. Woori still has one single
manager hedge fund and is also developing a fund of funds business together with Fullerton,
Temasek's asset management subsidiary.
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.
20 Jan 2010
Hedge funds in Asia, excluding Japan, were up 37.4% in 2009, outperforming all other regional
hedge-fund indices in 2009, according to Eurekahedge.
9 Jan 2010
Hachiman Capital’s Toru Ueda is relocating from the firm’s Tokyo-based investment advisor TY
Advisers to Hachiman’s Singapore office.
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.
5 Jan 2010
Singapore-based hedge fund research and consultancy house GFIA, headed by industry veteran
Peter Douglas, has launched a wealth management service. GFIA provides a full fiduciary service,
from initial structuring of an individual’s or family’s assets, through cash management, to portfolio
investment, due diligence and execution of specific acquisitions, disposals, and other deals, and
management and support of philanthropic activities.
2 Jan 2010
Herbert Wong, CIO of Lion Fairfield Capital Management, will move back to a position at parent
company Lion Global Investors next week.
22 Dec 2009
Albert Ee (ex-Millennium Management, Tribeca, GIC) plans to set up AE Capital Management in
Singapore to run a global macro fund. The fund is expected to launch in February.
18 Dec 2009
The Eurekahedge Asian Hedge Fund Index returned an estimated +0.89% in November which brings
the YTD figure to +22.95%.
14 Dec 2009
Singapore-based Artradis Fund Management, one of Asia's largest hedge fund managers, have this
year lost about US$2 billion in redemptions and trading losses. The Artradis AB2 Fund has returned
-23% and the Barracuda Fund -11% so far in 2009.
9 Dec 2009
London-headquartered Prana Capital is in the process of opening an office in Singapore. The firm’s
founder Peregrine Cust is expected to relocate to the new office.
1 Dec 2009
Galleon, the US-headquartered hedge fund firm whose founder is being investigated for insider
trading, is believed to be closing its Asian office in Singapore by the end of the month.
25 Nov 2009
Tan Tien Leong (ex-Millennium Capital Partners) plans to launch the AN Commodity Fund in January.
19 Nov 2009
Riley Paterson has closed its Asian Opportunities Fund to new investors as it has reached its target
of US$300m in AUM. The fund has gained 16% so far this year.
18 Nov 2009
According to AsiaHedge, 58 Asian hedge funds have shut down so far in 2009. 132 Asian hedge
funds shut down during all of 2008.
12 Nov 2009
Japanese hedge fund manager Hachiman Capital is positioning itself for future growth. While the
firm maintains a research office in Tokyo, co-founder and portfolio manager Yashwant Bajaj has
recently relocated from Tokyo to Singapore.
4 Nov 2009
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.
3 Nov 2009
Woori Investment & Securities and Temasek Holdings are reportedly setting up a new hedge fund
joint venture.
20 Oct 2009
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.
23 Sep 2009
Some 200 of Singapore's finest hedge fund managers and their investors attended the
fourth Singapore Hedge Funds Club networking evening at the exclusive Tower Club last
week.
11 Sep 2009
Stefano Pizzo, formerly head of Unigestion Asia, has set up his own shop, Lotus Peak
Capital, in Singapore. Swiss-based Palladio Alternative Research Group has hired Lotus
Peak Capital for Asian research coverage.
9 Sep 2009
Martin Currie Investment Management has hired Chen Ee Fang (ex-Vanguard Investments
and Watson Wyatt) as business development director for Asia. He will be based in the
Singapore office, which will open on October 1.
7 Sep 2009
Guan Ong has launched Blue Rice Investment Management in Singapore. The credit-
focused hedge fund manager will invest in investment grade/high grade, sub-investment
grade/high yield and credit macro strategies. Guan was most recently the Chief Investment
Officer of Korea Investment Corporation (KIC), Korea's sovereign wealth fund. He is also
currently an Investment Committee member for the National University of Singapore's
Endowment Fund. Prior to joining KIC, Guan served as the CEO and CIO of Prudential Asset
Management Co. in Korea (2004-06) and started Prudential's Singapore office (Pramerica)
in 2000, where he was responsible for developing a team that focused on research and
trading in Asian fixed income credits. He has also previously worked for Credit Suisse First
Boston in London as well as Lehman Brothers in Hong Kong.
22 Aug 2009
Brian Wong, who recently left the fund of hedge funds investment team at Swiss-Asia, has
joined Centurion Investment Management, a pan-Asian alternative investment company.
19 Aug 2009
Truston Asset Management in Singapore has converted its long-only Dynamic Korea Fund
into a long/short equity hedge fund.
18 Aug 2009
Woori Investment & Securities, the Korean financial group that already has a hedge fund
platform up and running in Singapore, is believed to be working on plans on a significant
expansion of its alternatives investment business. Samsung Securities is another Korean
firm that has chosen Singapore as home to its alternatives investment business.
Asia Genesis Asset Management, the Singapore-based manager of the Japan Macro Fund,
is shutting down as founder Chua Soon Hock wants to work less and improve his health.
The firm will close both the Japan Macro Fund (US$761m in AUM) and the smaller Asia
Genesis Equity Fund (US$12m in AUM).
HedgeFund.net's HFN Asia Average hedge fund index was +6.00%% in July and +20.02%
YTD.
14 Aug 2009
From GFIA's Asian Hedge Funds Note: "We reported in November 2005 that there were 131
Asian hedge funds with more than US$200m under management, commenting that this
signified that Asia now had a real hedge fund industry. Three years later, in early 2008, there
were at least 372, and GFIA believes closer to 45, managers with over US$1bn in hedged
assets run from Asia. By mid 2009, we estimate that there are approximately 25 managers
that manage in excess of US$1bn (14 local indigenous firms and 11 global managers)."
13 Aug 2009
Brian Wong is leaving the investment team of Swiss-Asia's fund of funds business in
Singapore.
Angus Hume has left GFIA, a consulting and fund of funds advisory business in Singapore,
where he was head of distribution.
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 promoted Alastair Sclater to head of prime brokerage in Singapore.
10 Aug 2009
Greg Baker, Managing Director of Trading at Artradis Fund Management in Singapore, has
left the firm. Michael Marusiak, Managing Director and Portfolio Manager, has also left the
firm.
6 Aug 2009
Portfolio manager John Foo (ex-Kingsmead Capital, Indus Capital, Guoco Group) is
teaming up with FrontPoint Partners to launch a new event-driven hedge fund in Singapore.
Hubert Yong and Edgar Chia (both ex- Kingsmead Capital) are also joining the new fund.
3 Aug 2009
Thomas Picard has left HFG Investments and joined hedge fund Saka Capital.
28 Jul 2009
Edinburgh-based Martin Currie Investment Management is about to launch an Asian
marketing office in Singapore. The firm also plans to add a dealing desk in Singapore in the
coming year.
15 Jul 2009
Hedge fund manager OakRun Capital has hired Mark Potter and Brian Long in Singapore to
develop relationships with Asian institutions.
9 Jul 2009
Pacific Alternative Asset Management Company (PAAMCO) has promoted Kemmy Koh to
partner. Koh, who heads PAAMCO's Singapore office, joined the firm in 2000.
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
Brummer & Partners, the Stockholm-headquartered hedge fund manager, will launch an
Asian long/short fund which will be managed by its Singapore office.
Aaron Rayner has left Hawkesbury Capital Management.
30 Jun 2009
Singapore-based Opvs Group is launching two Asia-focused credit funds in July. The team
behind Opus includes Barry Dick (ex-Merrill Lynch), Chris Francis (ex-Merrill Lynch),
Sandeep Gill (ex-DBS Group) and Tommy Kim (co-founder of HFG Investments). In total the
firm will have a 25-person strong team. The two funds, the Opvs Asia Opportunity Fund and
the Opvs Fundamental Asia Credit Fund, will be launched with US$100m of seed money.
29 Jun 2009
Singapore-based SaKa Capital, founded by Assan Din (ex-Lehman Brothers) plans to
launch an Asian credit hedge fund in September which will focus on corporate bonds and
derivatives.
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.
25 Jun 2009
Christine Tran has joined Four Elements Capital in Singapore in an investor relations role.
24 Jun 2009
Aksia, with offices in the US and Asia, has won Institutional Investor magazine's Hedge
Fund Consultant of the Year Award.
23 Jun 2009
Allard de Jong has left PAAMCO's FoFs team in Singapore.
12 Jun 2009
Asian hedge funds returned an estimated +9.02% in May, according to Eurekahedge. YTD
returns at the end of May were +13.26%.
About 65% of hedge funds in Asia trade only equities, according to data compiled by
Singapore-based GFIA and Eurekahedge. This compares with a global average of 44%.
4 Jun 2009
US alternative investment manager NIR Group has hired Shoham Cohen (ex-Superfund) as
its Asian representative. Cohen will open NIR's Asian headquarters in Singapore.
29 May 2009
Fund of hedge funds Tradex Global Advisors has hired Vikram Agarwal (ex-DE Shaw,
Fortress, Banque Syz) as a consultant to expand its operations and investments in Asia.
22 May 2009
According to Eurekahedge, Asian funds returned +4.08% in April which takes YTD returns to
+4.16%.
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.
30 Apr 2009
AsianInvestor magazine has announced the winners of its 2009 Investment Performance
Awards for institutional funds management. In the hedge fund space, the winners were:
Asia Pacific: Vegasoul Fund
Asia ex-Japan: Riley Paterson Asian Opportunities Fund
Japan: Atom Japan Equity Fund
Long/short equity: FrontPoint Financial Services Fund
Multi-strategy: Segantii Asia Pacific Equity Multi-Strategy Fund
Quantitative: Abaxs Index CAC
Distressed/special situations: QBridge Fund
Event-driven: Thaddeus Asia Event Driven Fund
Macro: BIA Pacific Macro Fund
New launch: DoReMi Fund
India: India Diversified Fund
Greater China: Triskele China Fund
Fixed income: Stratton Street Asian Bond Fund
Volatility: Artradis AB2 Fund
Fund of hedge funds: Persistent Edge
Eurekahedge's Asian Hedge Fund Awards 2009 (to be held in Singapore on 29 May) has
released the shortlist for the Best Singapore-based Hedge Fund award: Artradis AB2 Fund,
Artradis Barracuda Fund, Ginga Service Sector Fund - Japan Equity Sector Focus,
Halberdier Fund, Japan Macro Fund, KC Asia Fund, Octagon Tactical Short Fund, Riley
Paterson Asian Opportunities Fund and The Merchant Commodity Fund.
27 Apr 2009
Credit Suisse Asset Management has appointed Andrew Crawford (ex-Deutsche Asset
Management) to be in charge of Southeast Asia and report to Conrad Yan in Hong Kong.
Crawford is based in Singapore.
24 Apr 2009
Singapore-based Octagon Capital Management is planning to start a quantitative macro
fund to profit from broad economic trends. Octagon, founded by Lam Poh Min (ex-GIC) in
2004, currently manages US$160m. Quek Jee Ngee (also ex-GIC) will manage the new
fund.
8 Apr 2009
Hari Kumar and Julian Snaith (both ex-Goldman Sachs and TPG-Axon) have founded
Singapore-based LionRock Capital, a new multi-strategy fund will focus on Asia-Pacific
stocks that will launch wiyh US$75m on June 1.
1 Apr 2009
Matt Pecot has resigned as US prime brokerage chief at UBS to join Barclays in Singapore.
27 Mar 2009
According to a Bloomberg report, Millennium Management, Israel Englander's US$11.5
billion hedge fund firm, has hired over 15 people in Asia since early December. New hires
include Singapore- based portfolio managers James Sullivan (ex-Citadel), David Bijaoui
and Thierry Choffel. Both Bijaoui and Choffel are ex-Lehman Brothers in Japan.
26 Mar 2009
Fullerton Fund Management, the fund management arm of Temasek, Singapore's state-
backed investment fund, has said it will commit more money to hedge funds during 2009.
According to Reuters, Fullerton favours hedge funds that operate managed futures and
equities strategies as it is easier to track their performance due to the liquidity of the
underlying investments.
24 Mar 2009
Elisabeth Thom, previously with JL Capital, has joined Flowering Tree Investment
Management as a partner.
18 Mar 2009
Singapore's 3 Degrees, managed by Moe Ibrahim, will launch ADF Prime, a credit fund that
will invest in performing, mispriced debt obligations of Asian companies. The fund will
launch with US$25 million.
16 Mar 2009
Harbinger Capital is opening a Singapore office. Jim Eun and Jason Byun have been hired
to head up the new Asian office.
11 Mar 2009
Paul Absalom in Singapore has launched a new fund of hedge funds called Stockade Asian
Trading Strategies. Prior to setting up Stockade, of which Absalom is CIO and CEO, he was
working on the launch of Teak Capital and, prior to that, he was head of hedge fund and
central bank sales at HSBC. Stockade has also taken onboard Tiong Yee Koh (ex-UOB) as
portfolio manager, and Jacob Shin (ex-Richcourt Fund Advisors and the World Bank
Pension Fund) as risk manager and COO.
10 Mar 2009
Singapore-based Artradis Fund Management, now one of Asia's largest hedge fund
managers, has hired David Dredge as managing director for portfolio management. Dredge
joins from RBS, where he was deputy global head of local markets and head of local
markets trading and risk management in Asia.
9 Mar 2009
Elena Krapcheva, formerly of 3 Degrees Asset Management in Singapore, has joined
Finansa Fund Management in Bangkok as Investor Relations Manager.
Patric Gysin has recently been transferred to Singapore to become to new Business Head
Asia and Head Equity Hedge Asia & EM for RMF Investment Management.
6 Mar 2009
Singapore-based hedge fund manager Artradis has hired James Sweeney from Credit
Suisse as its chief operating officer. While at CS in New York, Sweeney ran the fund-linked
products group.
5 Mar 2009
Singapore and Tokyo-based UMJ has launched the US$12 million Kotoshiro Fund, a
Japanese long/short equity strategy. The firm AUM is now US$76m.
20 Feb 2009
The Eurekahedge Asian Hedge Fund Index returned an estimated -1.34% in January. This
follows an annual return of -20.79% in 2008.
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.
10 Feb 2009
Jessica Lee has left Value Partners in Singapore. She has been replaced by Priscilla
Phoon Yilin.
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%.
6 Feb 2009
Frank Wong, ex-Vice Chairman of DBS Bank, has joined hedge fund Galleon Group as
Asian chairman. Galleon manages about US$1bn in Asia.
Ho Ching, CEO of Temasek Holdings, Singapore's US$130 billion state-owned investment
company, will step down after almost seven years. Ho, who is also the wife of Singapore's
Prime Minister Lee Hsien Loong, will be replaced by ex-BHP Billiton CEO Charles Goodyear.
3 Feb 2009
Singapore-based Cavenagh Capital will launch the Cavenagh Asia Macro fund in May.
Andrew Gale (ex-Dexion Capital, Morgan Stanley) and Lee Ka Shaohave (ex-DBS, J.P.
Morgan) are the brains behind the new fund.
1 Feb 2009
New York-headquartered US$1bn hedge fund manager Capstone has set up a Singapore
office. It plans to launch an Asian-focused fund in March.
30 Jan 2009
Singapore-listed Fortune Real Estate Investment Trust's CEO Stephen Chu has left the firm
to join ARA Asset Management.
Singapore's Artradis Fund Management's volatility funds were the best-performing hedge
funds (among funds with AUM of US$500m or more) in Asia in 2008. Its Artradis AB2 and
Artradis Barracuda funds returned 35% and 27% respectively, while Asian-focused hedge
funds on average were down 21% in 2008. Artradis AUM is US$4.5 billion.
Institutional Investor's Alpha magazine has compiled a list of Asia's 25 biggest hedge fund
managers. The list includes nine Singapore-based managers: Artradis Fund Management
(#3), Arisaig Partners (#4), Aisling Analytics (#7), Tantallon Capital (#11), Lapp Capital
(#17), Symphony Financial Partners (#21), Helios Capital Management (#23), UG
Investment Advisers (#24) and Asia Genesis (#25).
23 Jan 2009
Andrew Hill, from Nikko Citi's prime brokerage in Japan, will relocate to Singapore in
February to head up Citi's prime brokerage business there. He will also remain co-head of
the Japan prime brokerage business. Alexis Fosler previously ran Citi's PB business in
Singapore but left the firm at the end of last year.
The government of Singapore has reduced the costs of doing business in the country in its
2009 budget. Despite being in a recession, the government has announced tax cuts and
more spending as it continues to compete with Hong Kong for hedge fund business. The
new corporate tax rate is 17%.
21 Jan 2009
US$4.5 billion Singapore-based Artradis Fund Management had a great 2008. Its multi-
strategy AB2 fund gained 34.7% while its Barracuda fund rose over 26%.
16 Jan 2009
Fullerton Fund Management will conduct even tougher due diligence on its hedge fund
managers in 2009, said Shirin Ismail, head of absolute return strategies at the fund
management arm of Temasek, the state owned investment company, in a Reuters
interview. The focus this year will be on investing in liquid trading strategies. Fullerton is
also considering investments in credit-related hedge funds that can take advantage of the
current turmoil.
15 Jan 2009
Pengana Capital has opened a Singapore office which will be staffed by three newly hired
investment professionals: Douglas Isles, Ashley Durante and Vikas Kumra. Pengana
manages an Asia Special Events Fund and an Asian Equities Long Short Fund.
1 Jan 2009
June Lew, who was a Senior Manager at Tantallon Capital in Singapore, yesterday left the
firm.
31 Dec 2008
Adrian Gmuer, who ran the Singapore office of Swiss fund of hedge funds giant RMF, has
left the company. Before relocating to Singapore less than two years ago he ran RMF's
Tokyo office.
13 Dec 2008
The Eurekahedge Asian hedge Fund Index was down an estimated -0.17% in November
and -22.33% YTD.
4 Dec 2008
KBC Alpha Asset Management, who until recently was a US$900m Asian FoF led by David
Walter with staff in Singapore, London, Hong Kong and Singapore, has been acquired by
Pacific Alternative Asset Management Company. Walter and his Asian team will report to
PAAMCO's Asian head Kemmy Koh in Singapore while four other KBC staff in London will
report to Stephen Oxley. As part of the deal Tokyo-based hedge fund analyst David Bridge
has transferred to PAAMCO's Singapore office with immediate effect.
25 Nov 2008
Alexis Fosler, head of Citi's prime brokerage team in Singapore, has reportedly left the
company.
20 Nov 2008
Singapore-based Asia Genesis Asset Management plans to launch a new Asian equity fund
in early 2009. The fund will is believed to be focused on undervalued China-related stocks
listed in Hong Kong.
17 Nov 2008
Singapore-based hedge fund Bronte Investment Management is expanding. The firm is
looking for two additional investment analysts to join its team. Bronte's investment strategy
is a combination of bottom-up fundamental stock-picking with a country-analysis overlay.
Bronte was founded by former Morgan Stanley exec Paul Kitney and launched its Asia
Pacific focused fund in August.
AUM in Asian-focused hedge funds has decreased by 13% in Q3 of 2008 according to
Hedge Fund Research. As a result of redemptions and poor performance, the size of the
Asian hedge fund industry has fallen from US$100 billion to US$87 billion in total assets.
10 Nov 2008
Michael Coleman, managing director of Aisling Analytics, has been elected as the new
chairman of AIMA Singapore. He succeeds Peter Douglas of GFIA in this role.
7 Nov 2008
Connecticut-based fund of hedge funds shop Kenmar is opening a Singapore office.
Kenmar's Asian office will be headed by Chris McLeod. Chris previously ran alternative
investments for ABN Amro in Hong Kong . Kenmar Asia will be doing both hedge fund
manager research and marketing.
4 Nov 2008
Rajesh Sachdeva, formerly of Sansar Capital and Kingdon Capital, has set up Flowering
Tree Investment Management in Singapore. Rajesh plans to launch a new Asia ex-Japan
long/short equities strategy in April 2009.
3 Nov 2008
Former GLG star trader Philippe Jabre, who set up his own shop in 2007 seems to have
started to feel the pain like most of his hedge fund industry colleagues. Jabre Capital
Partners, headquartered in Geneva, has reportedly closed its Singapore office where he
employed six people. Jabre has also reduced its headcount in Geneva.
31 Oct 2008
Singapore-based hedge fund Tree Line Asia has bought Goldman Sachs' stake in a
number of companies, including Mount Everest Mineral Water, United Phosphorus and
Igarashi Motors, on the open market since the beginning of October.
29 Oct 2008
Lionel Semonin, a former managing director in the global commodity investor derivatives
group at BNP Paribas, has established Four Elements Capital in Singapore.
20 Oct 2008
Singapore-based Artradis Fund Management, with an AUM of US$4 billion, plans to raise
US$500 million for an Asian convertible bond fund. The fund will invest in undervalued
convertible bonds throughout Asia, including Japan.
13 Oct 2008
Praesidium, a Dubai-based client advisory firm, has recently opened its offices in
Singapore. Praesidium advises financial institutions on matters such as Islamic Finance
structuring as well as setting up DIFC-based companies and funds. Felix Sim, previously an
active member in the Singapore hedge fund industry, is now a Middle East fund consultant
with Praesidium.
6 Oct 2008
Singapore-based Tantallon Capital has reportedy closed its Asian-focused US$18m
Smaller Companies Fund following poor performance.
2 Oct 2008
The combined wealth of Asia-Pacific's millionaires increased 12.5% to US$9.5 trillion last
year. According to a new Merrill Lynch and Capgemini survey, covering Japan, India,
Australia, China, Hong Kong, Indonesia, Singapore, Taiwan, and South Korea, the number
of high net-worth individuals in these countries increased 8.7% to 2.8 million people,
making Asia Pacific home to 27.8% of the world's high net-worth individuals.
24 Sep 2008
Alternative asset manager the Duet Group is expanding with a new subsidiary in Singapore,
Duet Asia.
23 Sep 2008
Singapore-based Chirin Capital is launching the Chirin Asia Absolute Alpha Fund. The fund
will invest in Asia ex-Japan. The investment team will be split between Singapore and
London and headed by the firm's CIO, Martin Shenfield.
22 Sep 2008
The Eurekahedge Asian Hedge Fund Index returned an estimated -2.29% in August and
-12.59% YTD.
19 Sep 2008
Despite the craziest week in modern Wall Street history, hundreds of hedge fund managers
and investors came out to play at the Tower Club for the second Singapore Hedge Funds
Club networking evening.
10 Sep 2008
Cerulli Associates, an Asian financial services research firm, has promoted Ken Yap to
head up its Asian office in Singapore.
3 Sep 2008
Platinum Capital, a London-based US$1 billion hedge fund and fund of funds manager,
plans to expand into Asia and will start by opening an investment office in Singapore.
1 Sep 2008
Concordia Advisors is reportedly shutting down its Asian multi-strategy fund that has been
run from Singapore.
29 Aug 2008
Samsung Securities is reportedly setting up an alternative investments desk in Singapore. It
is not yet established if Samsung Securities plans on running its own funds or if it will invest
with external hedge fund managers.
28 Aug 2008
Catalin Burlacu has left Millennium Capital Management, where he was a portfolio
manager, and has joined. Accelera.
23 Aug 2008
NewSmith is understood to be relocating its portfolio managers from Hong Kong to
Singapore. The firm also has investment professionals in Tokyo.
22 Aug 2008
Tokyo and Singapore-based TY Advisers, who advises the Hachiman Capital Japan equity
long/short fund, has hired Masamitsu Akahane as a Japanese equity analyst, based in
Tokyo. Prior to joining the firm, he used to work for Ramius Capital Group, a global hedge
fund manager with US$12 billion in AUM and was part of a pan-Asian events team and prior
to that, he worked as a Japanese equity analyst at another hedge fund, RJM Advisors/GCI
Asset Management. He is 33 years old and has a MBA degree from Columbia University,
New York, and a BA degree from Senshu University in Tokyo.
12 Aug 2008
The CME Group will host a presentation for hedge fund managers and investors featuring
Michael Coleman of Aisling Analytics in Singapore on Sep 18.
J.P. Morgan will host a hedge fund investor event featuring Paulson & Co and Horizon in
Singapore on September 16
11 Aug 2008
Lincoln Valentine, a hedge fund analyst for fund of hedge funds shop RMF in Singapore and
Tokyo for the past four years, has left the firm.
6 Aug 2008
The much talked-about launch of former Merrill Lynch investment banker Dow Kim’s
hedge fund firm Diamond Lake Investment Group seems to have been shelved forever
following the failure of its seed investors to pay up. The firm, which also planned to have a
Singapore office, was initially expected to have launched with over a billion dollars.
3 Aug 2008
According to data compiled by Hedge Fund Research, fresh inflows into Asia-focused
hedge funds fell by 50% to US$530m in the second quarter compared to the first quarter.
Capital invested in Asian hedge funds is now an estimated US$100.48 billion.
29 Jul 2008
Shin Kubo, previously at Russell Investments in Tokyo and London, has recently relocated
within the firm to Singapore where he will work on hedge fund manager research.
25 Jul 2008
According to the 2007 Singapore Asset Management Industry Survey, which has just been
released by the Monetary Authority of Singapore, the number of hedge fund and funds of
hedge fund managers in Singapore has increased by more than 50% to almost 300. Total
assets managed by these firms doubled to more than US$55 billion as of the end of 2007.
21 Jul 2008
Former Morgan Stanley analyst Rob Hart has resigned after 12 years to join alternative
asset manager Sansar Capital Management in Singapore.
18 Jul 2008
Highland Capital is about to establish an Asia-Pacific regional office in Singapore. The
office will be headed by Paul Adkins who will relocate from Dallas to Singapore.
16 Jul 2008
The June estimate for the Eurekahedge Asian Hedge Fund Index is -3.55% which brings the
YTD performance to -8.74%.
10 Jul 2008
New York-based US$20 billion alternative asset manager Angelo, Gordon & Co is believed
to be planning to open a Singapore office.
9 Jul 2008
Singapore's Felix Sim has joined Dubai-based advisory firm Praesidium.
The International Monetary Fund's sovereign wealth fund working group has gathered in
Singapore today to discuss a code of ethics.
2 Jul 2008
Singapore-based US$400m+ Asian distressed debt hedge fund firm 3 Degrees Asset
Management, led by Moe Ibrahim, has hired Michael Gilmore as a managing principal. He
will oversee the firm's daily operations as well as serve on its investment committee and act
as a portfolio manager of the ADF Special Opportunities Fund. Michael is a former head of
Asian consumer and media research at UBS and Nomura. He has also headed Indonesian
research at UBS and DBS.
24 Jun 2008
Singapore Exchange has appointed Jeremy Ang Peng Leong as the new CEO of Singapore
Commodity Exchange.
13 Jun 2008
London and Geneva-based fund of hedge funds manager Caliburn Capital Partners last
month opened its first Asian office in Singapore.
11 Jun 2008
David Lau, former Joint Head of Global Financial Markets at the Development Bank of
Singapore has joined the US$7.3b New York-based Galleon Group to head its new
Singapore office as well as co-manage the US$1.2b Asia multi-strat Galleon Asia Macro
Fund. He is also President of the Financial Markets Association.
Singapore-based 3 Degrees Asset Management, a US$400m Asian distressed debt-
focused fund, is reportedly planning to opportunistically target Australian assets such as
companies struggling to refinance their loans. The fund may also target companies that
took in too much leverage and are at risk of default.
8 Jun 2008
Chrissy Choong has relocated from Hong Kong to Singapore to open Value Partners' new
sales and marketing office in the Lion City.
7 Jun 2008
Fund of hedge funds giant RMF is understood to be considering expanding its Singapore-
based Asian investment team with one additional hedge fund analyst.
6 Jun 2008
Felix Sim, author of The New Alternative blog and a well-known face in the Singapore hedge
fund industry, is relocating to Dubai to take up a new hedge fund-related position. Felix has
previously worked for GCI Asset Management, Opes Prime Asset Management and Mizuho
Corporate Bank.
5 Jun 2008
Rebekah Pang has recently left KBC Alpha's fund of hedge funds team in Singapore.
1 Jun 2008
AIMA Singapore has published a new handbook called "Guide to establishing an alternative
investment business in Singapore". The guide covers regulatory, legal, operational,
employment, and commercial issues, as well as an overview of life in Singapore,
Alex Ng has left Superfund in Hong Kong to join Reliance Asset Management in Singapore in a sales
role.
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
AUM in Singapore’s hedge fund industry was US$42 billion in 2009 according to the Monetary
Authority of Singapore’s annual Singapore Asset Management Industry Survey. The number of
Singapore-based hedge fund managers declined from 350 to 320.
6 Jul 2010
Mizuho Securities has hired Alastair Sclater (ex-UBS) to head its prime brokerage in Singapore.
5 Jul 2010
Peter Douglas of GFIA will step down as the Asia rep on AIMA’s council. Douglas was previously also
head of AIMA’s Singapore chapter.
1 Jul 2010
Cosmo Investment Management, the South Korean firm partly owned by Japan’s Sparx Group, has
hired S. Hahn Sull (ex-Oojoo Capital Partners in Singapore) as CEO. He replaces Kevin Choi,
Cosmo's founder, who left the firm in June. Cosmo has also promoted Min-Key Seo to CIO.
25 Jun 2010
Singapore-based RSR Capital plans to launch the Caerus Arbitrage Asia Fund, an Asian-focused
volatility fund. Christophe Delorme (ex-Newedge) is behind the frim together with a group of
derivatives traders from Goldman Sachs and Barclays Capital.
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.
Bank Sarasin & Co has named Damien Ng (ex-Credit Suisse, Merrill Lynch, Long-term Credit Bank of
Japan, Core-Pacific Yamaichi Bank, Nordea) as the new head of investment consulting at Bank
Sarasin-Rabo (Asia) in Singapore.
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.
Superfund has closed six of its international sales offices, including Singapore, and laid off staff to
cut costs.
10 Jun 2010
The Alithion Japan Fund will be launched on 1 July with seed money from Marubeni in Tokyo. Akira
Yaku, Kentaro Ishizaki and Kai Hoshino (all ex-Mizuho) are the brains behind the new Japan fund
which will be run from Singapore by Alithion Capital Management.
8 Jun 2010
David Forsyth has returned to UBS as head of the firm's prime brokerage in Singapore. He replaces
Alastair Sclater.
2 Jun 2010
Hans Goetti has left his position as CIO, Asia for LGT Bank in Singapore.
1 Jun 2010
Woori Absolute Partners and Fullerton Fund Management have launched the Woori Absolute Return
Investment Strategies Fund, an Asian-biased fund of funds.
25 May 2010
Prime Fund Solutions, the prime services unit that Fortis is in the process of selling to Credit Suisse,
has hired Jay Moghe (ex-Asian Alternative Consulting) and Martin Lui (ex-Citi) in Singapore.
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.
Following an investment from a major Dutch pension fund Cavenagh Capital is relocating from
Singapore to Amsterdam to launch a new Luxembourg-domiciled fund.
James Jung-Beck Kim has left Woori Absolute Partners and recently joined IBK as managing director
and head of proprietary trading. IBK Securities, part of the Industrial Bank of Korea, wants to
establish itself in the alternative investments space through new partnerships.
17 May 2010
Prudent Asia Capital Management, led by Hong Na, plans to start the Prudent Asia Balanced Fund,
an Asian credit hedge fund, later this year.
13 May 2010
Norges Bank Investment Management (NBIM), one of the world's largest sovereign wealth funds, is
opening an office in Singapore. This follows its Shanghai office opening two years ago. NBIM
manages some of the investments of the Norwegian Government Pension Fund, the Norwegian
central bank's foreign exchange reserves and the Government Petroleum Insurance Fund.
12 May 2010
Pádraig Hayes has been appointed the new managing director for Citco Fund Services in Singapore.
He was previously at the firm's Dublin office.
7 May 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.
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.
5 May 2010
Salus Alpha, the Switzerland-headquartered hedge fund manager mainly active in the global
macro/commodities space, is looking for a sales person for its Singapore office as it expands further
in Asia.
29 Apr 2010
Deep Kapur, managing director at hedge fund manager Symphony Financial Partners, is leaving both
the firm and the industry this week.
Douglas Isles has left Pengana's Singapore 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 two new hires in Singapore are Jun Chan (ex-Morgan Stanley),
Neil Toy (ex-Goldman Sachs).
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
London-headquartered Algebris Investments, with US$1.5 billion in AUM, has opened an office in
Singapore.
22 Apr 2010
The Monetary Authority of Singapore plans to launch a public consultation on its alternative
investment rules in May.
Albert Ee (ex-Millennium Management Asia, Tribeca and GIC) has set up Pilgrim Partners Asia. The
Pilgrim Asian Macro fund will launch on 3 May with about US$28m spread across the fund and some
managed accounts. Lawrence Lee (ex-Wilmar, GIC, Tribeca) has also joined the new firm.
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
Jason Wang (ex-GLG) and Simon Quirke (ex-Lionhart) have founded Iridium Asset Management in
Singapore which plans to launch an Asian commodity-linked stock hedge fund.
14 Apr 2010
Edmund Teo (ex-First State Investments, UOB Asset Management) has joined Russell Investments in
Singapore as regional director for sales and marketing.
9 Apr 2010
The next Singapore Hedge Funds Club Networking Evening will take place on Tuesday 7 September.
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
Barclays Capital is apparently recruiting for an Asian capital introduction team to be based in
Singapore. Definitely chili crab then.
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.
22 Mar 2010
Eurekahedge's annual Asian Hedge Fund Awards will be taking place in Singapore on 20 May. Award
judges are Peter Douglas (GFIA), David Walter (PAAMCO), Akane Hashimoto (HC Asset
Management), Richard Johnston (Albourne Partners) and John Know (LGT Capital Partners).
17 Mar 2010
The Eurekahedge Asia ex-Japan Hedge Fund Index returned an estimated -0.06% in February and
-2.69% YTD.
5 Mar 2010
Singapore plans to establish a hedge fund cluster in out-of-town location Nepal Hill. The Monetary
Authority of Singapore and JTC Corp are jointly marketing the proposed hedge fund cluster which
follows on from Singapore’s existing tax and regulatory incentives for hedge fund managers to set
up shop in Singapore.
3 Mar 2010
Justin Pollock and his old Galleon Asia team have joined CastleBay Capital Management where they
will run the new CastleBay Asia Long/Short Equity Fund.
2 Mar 2010
Paul Absalom (ex-Stockade Asset Management, HSBC) has joined Standard Chartered in Singapore
in a sales role. Absalom is also one of the founders of Teak Capital Partners.
23 Feb 2010
Aisling Analytics, Mike Coleman’s US$1.6 billion commodities hedge fund company, is launching an
equity long/short strategy which will focus on commodities and natural resources-related equities.
Tan Yi-Wa will manage the new fund.
22 Feb 2010
Moore Capital, Maverick Capital, Viking Global Investors and Stark Investments are reportedly
planning to open offices in Asia during the spring.
Singapore-based MAM, a Japanese family office, has set up its own internal proprietary Japan-
focused hedge fund.
3 Feb 2010
Woori Absolute Partners has shut down one of its hedge funds, the Woori Absolute Asia Multi-
Strategy Fund. Also, K.C. Song has been appointed the firm's new CIO. Woori still has one single
manager hedge fund and is also developing a fund of funds business together with Fullerton,
Temasek's asset management subsidiary.
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.
20 Jan 2010
Hedge funds in Asia, excluding Japan, were up 37.4% in 2009, outperforming all other regional
hedge-fund indices in 2009, according to Eurekahedge.
9 Jan 2010
Hachiman Capital’s Toru Ueda is relocating from the firm’s Tokyo-based investment advisor TY
Advisers to Hachiman’s Singapore office.
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.
5 Jan 2010
Singapore-based hedge fund research and consultancy house GFIA, headed by industry veteran
Peter Douglas, has launched a wealth management service. GFIA provides a full fiduciary service,
from initial structuring of an individual’s or family’s assets, through cash management, to portfolio
investment, due diligence and execution of specific acquisitions, disposals, and other deals, and
management and support of philanthropic activities.
2 Jan 2010
Herbert Wong, CIO of Lion Fairfield Capital Management, will move back to a position at parent
company Lion Global Investors next week.
22 Dec 2009
Albert Ee (ex-Millennium Management, Tribeca, GIC) plans to set up AE Capital Management in
Singapore to run a global macro fund. The fund is expected to launch in February.
18 Dec 2009
The Eurekahedge Asian Hedge Fund Index returned an estimated +0.89% in November which brings
the YTD figure to +22.95%.
14 Dec 2009
Singapore-based Artradis Fund Management, one of Asia's largest hedge fund managers, have this
year lost about US$2 billion in redemptions and trading losses. The Artradis AB2 Fund has returned
-23% and the Barracuda Fund -11% so far in 2009.
9 Dec 2009
London-headquartered Prana Capital is in the process of opening an office in Singapore. The firm’s
founder Peregrine Cust is expected to relocate to the new office.
1 Dec 2009
Galleon, the US-headquartered hedge fund firm whose founder is being investigated for insider
trading, is believed to be closing its Asian office in Singapore by the end of the month.
25 Nov 2009
Tan Tien Leong (ex-Millennium Capital Partners) plans to launch the AN Commodity Fund in January.
19 Nov 2009
Riley Paterson has closed its Asian Opportunities Fund to new investors as it has reached its target
of US$300m in AUM. The fund has gained 16% so far this year.
18 Nov 2009
According to AsiaHedge, 58 Asian hedge funds have shut down so far in 2009. 132 Asian hedge
funds shut down during all of 2008.
12 Nov 2009
Japanese hedge fund manager Hachiman Capital is positioning itself for future growth. While the
firm maintains a research office in Tokyo, co-founder and portfolio manager Yashwant Bajaj has
recently relocated from Tokyo to Singapore.
4 Nov 2009
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.
3 Nov 2009
Woori Investment & Securities and Temasek Holdings are reportedly setting up a new hedge fund
joint venture.
20 Oct 2009
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.
23 Sep 2009
Some 200 of Singapore's finest hedge fund managers and their investors attended the
fourth Singapore Hedge Funds Club networking evening at the exclusive Tower Club last
week.
11 Sep 2009
Stefano Pizzo, formerly head of Unigestion Asia, has set up his own shop, Lotus Peak
Capital, in Singapore. Swiss-based Palladio Alternative Research Group has hired Lotus
Peak Capital for Asian research coverage.
9 Sep 2009
Martin Currie Investment Management has hired Chen Ee Fang (ex-Vanguard Investments
and Watson Wyatt) as business development director for Asia. He will be based in the
Singapore office, which will open on October 1.
7 Sep 2009
Guan Ong has launched Blue Rice Investment Management in Singapore. The credit-
focused hedge fund manager will invest in investment grade/high grade, sub-investment
grade/high yield and credit macro strategies. Guan was most recently the Chief Investment
Officer of Korea Investment Corporation (KIC), Korea's sovereign wealth fund. He is also
currently an Investment Committee member for the National University of Singapore's
Endowment Fund. Prior to joining KIC, Guan served as the CEO and CIO of Prudential Asset
Management Co. in Korea (2004-06) and started Prudential's Singapore office (Pramerica)
in 2000, where he was responsible for developing a team that focused on research and
trading in Asian fixed income credits. He has also previously worked for Credit Suisse First
Boston in London as well as Lehman Brothers in Hong Kong.
22 Aug 2009
Brian Wong, who recently left the fund of hedge funds investment team at Swiss-Asia, has
joined Centurion Investment Management, a pan-Asian alternative investment company.
19 Aug 2009
Truston Asset Management in Singapore has converted its long-only Dynamic Korea Fund
into a long/short equity hedge fund.
18 Aug 2009
Woori Investment & Securities, the Korean financial group that already has a hedge fund
platform up and running in Singapore, is believed to be working on plans on a significant
expansion of its alternatives investment business. Samsung Securities is another Korean
firm that has chosen Singapore as home to its alternatives investment business.
Asia Genesis Asset Management, the Singapore-based manager of the Japan Macro Fund,
is shutting down as founder Chua Soon Hock wants to work less and improve his health.
The firm will close both the Japan Macro Fund (US$761m in AUM) and the smaller Asia
Genesis Equity Fund (US$12m in AUM).
HedgeFund.net's HFN Asia Average hedge fund index was +6.00%% in July and +20.02%
YTD.
14 Aug 2009
From GFIA's Asian Hedge Funds Note: "We reported in November 2005 that there were 131
Asian hedge funds with more than US$200m under management, commenting that this
signified that Asia now had a real hedge fund industry. Three years later, in early 2008, there
were at least 372, and GFIA believes closer to 45, managers with over US$1bn in hedged
assets run from Asia. By mid 2009, we estimate that there are approximately 25 managers
that manage in excess of US$1bn (14 local indigenous firms and 11 global managers)."
13 Aug 2009
Brian Wong is leaving the investment team of Swiss-Asia's fund of funds business in
Singapore.
Angus Hume has left GFIA, a consulting and fund of funds advisory business in Singapore,
where he was head of distribution.
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 promoted Alastair Sclater to head of prime brokerage in Singapore.
10 Aug 2009
Greg Baker, Managing Director of Trading at Artradis Fund Management in Singapore, has
left the firm. Michael Marusiak, Managing Director and Portfolio Manager, has also left the
firm.
6 Aug 2009
Portfolio manager John Foo (ex-Kingsmead Capital, Indus Capital, Guoco Group) is
teaming up with FrontPoint Partners to launch a new event-driven hedge fund in Singapore.
Hubert Yong and Edgar Chia (both ex- Kingsmead Capital) are also joining the new fund.
3 Aug 2009
Thomas Picard has left HFG Investments and joined hedge fund Saka Capital.
28 Jul 2009
Edinburgh-based Martin Currie Investment Management is about to launch an Asian
marketing office in Singapore. The firm also plans to add a dealing desk in Singapore in the
coming year.
15 Jul 2009
Hedge fund manager OakRun Capital has hired Mark Potter and Brian Long in Singapore to
develop relationships with Asian institutions.
9 Jul 2009
Pacific Alternative Asset Management Company (PAAMCO) has promoted Kemmy Koh to
partner. Koh, who heads PAAMCO's Singapore office, joined the firm in 2000.
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
Brummer & Partners, the Stockholm-headquartered hedge fund manager, will launch an
Asian long/short fund which will be managed by its Singapore office.
Aaron Rayner has left Hawkesbury Capital Management.
30 Jun 2009
Singapore-based Opvs Group is launching two Asia-focused credit funds in July. The team
behind Opus includes Barry Dick (ex-Merrill Lynch), Chris Francis (ex-Merrill Lynch),
Sandeep Gill (ex-DBS Group) and Tommy Kim (co-founder of HFG Investments). In total the
firm will have a 25-person strong team. The two funds, the Opvs Asia Opportunity Fund and
the Opvs Fundamental Asia Credit Fund, will be launched with US$100m of seed money.
29 Jun 2009
Singapore-based SaKa Capital, founded by Assan Din (ex-Lehman Brothers) plans to
launch an Asian credit hedge fund in September which will focus on corporate bonds and
derivatives.
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.
25 Jun 2009
Christine Tran has joined Four Elements Capital in Singapore in an investor relations role.
24 Jun 2009
Aksia, with offices in the US and Asia, has won Institutional Investor magazine's Hedge
Fund Consultant of the Year Award.
23 Jun 2009
Allard de Jong has left PAAMCO's FoFs team in Singapore.
12 Jun 2009
Asian hedge funds returned an estimated +9.02% in May, according to Eurekahedge. YTD
returns at the end of May were +13.26%.
About 65% of hedge funds in Asia trade only equities, according to data compiled by
Singapore-based GFIA and Eurekahedge. This compares with a global average of 44%.
4 Jun 2009
US alternative investment manager NIR Group has hired Shoham Cohen (ex-Superfund) as
its Asian representative. Cohen will open NIR's Asian headquarters in Singapore.
29 May 2009
Fund of hedge funds Tradex Global Advisors has hired Vikram Agarwal (ex-DE Shaw,
Fortress, Banque Syz) as a consultant to expand its operations and investments in Asia.
22 May 2009
According to Eurekahedge, Asian funds returned +4.08% in April which takes YTD returns to
+4.16%.
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.
30 Apr 2009
AsianInvestor magazine has announced the winners of its 2009 Investment Performance
Awards for institutional funds management. In the hedge fund space, the winners were:
Asia Pacific: Vegasoul Fund
Asia ex-Japan: Riley Paterson Asian Opportunities Fund
Japan: Atom Japan Equity Fund
Long/short equity: FrontPoint Financial Services Fund
Multi-strategy: Segantii Asia Pacific Equity Multi-Strategy Fund
Quantitative: Abaxs Index CAC
Distressed/special situations: QBridge Fund
Event-driven: Thaddeus Asia Event Driven Fund
Macro: BIA Pacific Macro Fund
New launch: DoReMi Fund
India: India Diversified Fund
Greater China: Triskele China Fund
Fixed income: Stratton Street Asian Bond Fund
Volatility: Artradis AB2 Fund
Fund of hedge funds: Persistent Edge
Eurekahedge's Asian Hedge Fund Awards 2009 (to be held in Singapore on 29 May) has
released the shortlist for the Best Singapore-based Hedge Fund award: Artradis AB2 Fund,
Artradis Barracuda Fund, Ginga Service Sector Fund - Japan Equity Sector Focus,
Halberdier Fund, Japan Macro Fund, KC Asia Fund, Octagon Tactical Short Fund, Riley
Paterson Asian Opportunities Fund and The Merchant Commodity Fund.
27 Apr 2009
Credit Suisse Asset Management has appointed Andrew Crawford (ex-Deutsche Asset
Management) to be in charge of Southeast Asia and report to Conrad Yan in Hong Kong.
Crawford is based in Singapore.
24 Apr 2009
Singapore-based Octagon Capital Management is planning to start a quantitative macro
fund to profit from broad economic trends. Octagon, founded by Lam Poh Min (ex-GIC) in
2004, currently manages US$160m. Quek Jee Ngee (also ex-GIC) will manage the new
fund.
8 Apr 2009
Hari Kumar and Julian Snaith (both ex-Goldman Sachs and TPG-Axon) have founded
Singapore-based LionRock Capital, a new multi-strategy fund will focus on Asia-Pacific
stocks that will launch wiyh US$75m on June 1.
1 Apr 2009
Matt Pecot has resigned as US prime brokerage chief at UBS to join Barclays in Singapore.
27 Mar 2009
According to a Bloomberg report, Millennium Management, Israel Englander's US$11.5
billion hedge fund firm, has hired over 15 people in Asia since early December. New hires
include Singapore- based portfolio managers James Sullivan (ex-Citadel), David Bijaoui
and Thierry Choffel. Both Bijaoui and Choffel are ex-Lehman Brothers in Japan.
26 Mar 2009
Fullerton Fund Management, the fund management arm of Temasek, Singapore's state-
backed investment fund, has said it will commit more money to hedge funds during 2009.
According to Reuters, Fullerton favours hedge funds that operate managed futures and
equities strategies as it is easier to track their performance due to the liquidity of the
underlying investments.
24 Mar 2009
Elisabeth Thom, previously with JL Capital, has joined Flowering Tree Investment
Management as a partner.
18 Mar 2009
Singapore's 3 Degrees, managed by Moe Ibrahim, will launch ADF Prime, a credit fund that
will invest in performing, mispriced debt obligations of Asian companies. The fund will
launch with US$25 million.
16 Mar 2009
Harbinger Capital is opening a Singapore office. Jim Eun and Jason Byun have been hired
to head up the new Asian office.
11 Mar 2009
Paul Absalom in Singapore has launched a new fund of hedge funds called Stockade Asian
Trading Strategies. Prior to setting up Stockade, of which Absalom is CIO and CEO, he was
working on the launch of Teak Capital and, prior to that, he was head of hedge fund and
central bank sales at HSBC. Stockade has also taken onboard Tiong Yee Koh (ex-UOB) as
portfolio manager, and Jacob Shin (ex-Richcourt Fund Advisors and the World Bank
Pension Fund) as risk manager and COO.
10 Mar 2009
Singapore-based Artradis Fund Management, now one of Asia's largest hedge fund
managers, has hired David Dredge as managing director for portfolio management. Dredge
joins from RBS, where he was deputy global head of local markets and head of local
markets trading and risk management in Asia.
9 Mar 2009
Elena Krapcheva, formerly of 3 Degrees Asset Management in Singapore, has joined
Finansa Fund Management in Bangkok as Investor Relations Manager.
Patric Gysin has recently been transferred to Singapore to become to new Business Head
Asia and Head Equity Hedge Asia & EM for RMF Investment Management.
6 Mar 2009
Singapore-based hedge fund manager Artradis has hired James Sweeney from Credit
Suisse as its chief operating officer. While at CS in New York, Sweeney ran the fund-linked
products group.
5 Mar 2009
Singapore and Tokyo-based UMJ has launched the US$12 million Kotoshiro Fund, a
Japanese long/short equity strategy. The firm AUM is now US$76m.
20 Feb 2009
The Eurekahedge Asian Hedge Fund Index returned an estimated -1.34% in January. This
follows an annual return of -20.79% in 2008.
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.
10 Feb 2009
Jessica Lee has left Value Partners in Singapore. She has been replaced by Priscilla
Phoon Yilin.
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%.
6 Feb 2009
Frank Wong, ex-Vice Chairman of DBS Bank, has joined hedge fund Galleon Group as
Asian chairman. Galleon manages about US$1bn in Asia.
Ho Ching, CEO of Temasek Holdings, Singapore's US$130 billion state-owned investment
company, will step down after almost seven years. Ho, who is also the wife of Singapore's
Prime Minister Lee Hsien Loong, will be replaced by ex-BHP Billiton CEO Charles Goodyear.
3 Feb 2009
Singapore-based Cavenagh Capital will launch the Cavenagh Asia Macro fund in May.
Andrew Gale (ex-Dexion Capital, Morgan Stanley) and Lee Ka Shaohave (ex-DBS, J.P.
Morgan) are the brains behind the new fund.
1 Feb 2009
New York-headquartered US$1bn hedge fund manager Capstone has set up a Singapore
office. It plans to launch an Asian-focused fund in March.
30 Jan 2009
Singapore-listed Fortune Real Estate Investment Trust's CEO Stephen Chu has left the firm
to join ARA Asset Management.
Singapore's Artradis Fund Management's volatility funds were the best-performing hedge
funds (among funds with AUM of US$500m or more) in Asia in 2008. Its Artradis AB2 and
Artradis Barracuda funds returned 35% and 27% respectively, while Asian-focused hedge
funds on average were down 21% in 2008. Artradis AUM is US$4.5 billion.
Institutional Investor's Alpha magazine has compiled a list of Asia's 25 biggest hedge fund
managers. The list includes nine Singapore-based managers: Artradis Fund Management
(#3), Arisaig Partners (#4), Aisling Analytics (#7), Tantallon Capital (#11), Lapp Capital
(#17), Symphony Financial Partners (#21), Helios Capital Management (#23), UG
Investment Advisers (#24) and Asia Genesis (#25).
23 Jan 2009
Andrew Hill, from Nikko Citi's prime brokerage in Japan, will relocate to Singapore in
February to head up Citi's prime brokerage business there. He will also remain co-head of
the Japan prime brokerage business. Alexis Fosler previously ran Citi's PB business in
Singapore but left the firm at the end of last year.
The government of Singapore has reduced the costs of doing business in the country in its
2009 budget. Despite being in a recession, the government has announced tax cuts and
more spending as it continues to compete with Hong Kong for hedge fund business. The
new corporate tax rate is 17%.
21 Jan 2009
US$4.5 billion Singapore-based Artradis Fund Management had a great 2008. Its multi-
strategy AB2 fund gained 34.7% while its Barracuda fund rose over 26%.
16 Jan 2009
Fullerton Fund Management will conduct even tougher due diligence on its hedge fund
managers in 2009, said Shirin Ismail, head of absolute return strategies at the fund
management arm of Temasek, the state owned investment company, in a Reuters
interview. The focus this year will be on investing in liquid trading strategies. Fullerton is
also considering investments in credit-related hedge funds that can take advantage of the
current turmoil.
15 Jan 2009
Pengana Capital has opened a Singapore office which will be staffed by three newly hired
investment professionals: Douglas Isles, Ashley Durante and Vikas Kumra. Pengana
manages an Asia Special Events Fund and an Asian Equities Long Short Fund.
1 Jan 2009
June Lew, who was a Senior Manager at Tantallon Capital in Singapore, yesterday left the
firm.
31 Dec 2008
Adrian Gmuer, who ran the Singapore office of Swiss fund of hedge funds giant RMF, has
left the company. Before relocating to Singapore less than two years ago he ran RMF's
Tokyo office.
13 Dec 2008
The Eurekahedge Asian hedge Fund Index was down an estimated -0.17% in November
and -22.33% YTD.
4 Dec 2008
KBC Alpha Asset Management, who until recently was a US$900m Asian FoF led by David
Walter with staff in Singapore, London, Hong Kong and Singapore, has been acquired by
Pacific Alternative Asset Management Company. Walter and his Asian team will report to
PAAMCO's Asian head Kemmy Koh in Singapore while four other KBC staff in London will
report to Stephen Oxley. As part of the deal Tokyo-based hedge fund analyst David Bridge
has transferred to PAAMCO's Singapore office with immediate effect.
25 Nov 2008
Alexis Fosler, head of Citi's prime brokerage team in Singapore, has reportedly left the
company.
20 Nov 2008
Singapore-based Asia Genesis Asset Management plans to launch a new Asian equity fund
in early 2009. The fund will is believed to be focused on undervalued China-related stocks
listed in Hong Kong.
17 Nov 2008
Singapore-based hedge fund Bronte Investment Management is expanding. The firm is
looking for two additional investment analysts to join its team. Bronte's investment strategy
is a combination of bottom-up fundamental stock-picking with a country-analysis overlay.
Bronte was founded by former Morgan Stanley exec Paul Kitney and launched its Asia
Pacific focused fund in August.
AUM in Asian-focused hedge funds has decreased by 13% in Q3 of 2008 according to
Hedge Fund Research. As a result of redemptions and poor performance, the size of the
Asian hedge fund industry has fallen from US$100 billion to US$87 billion in total assets.
10 Nov 2008
Michael Coleman, managing director of Aisling Analytics, has been elected as the new
chairman of AIMA Singapore. He succeeds Peter Douglas of GFIA in this role.
7 Nov 2008
Connecticut-based fund of hedge funds shop Kenmar is opening a Singapore office.
Kenmar's Asian office will be headed by Chris McLeod. Chris previously ran alternative
investments for ABN Amro in Hong Kong . Kenmar Asia will be doing both hedge fund
manager research and marketing.
4 Nov 2008
Rajesh Sachdeva, formerly of Sansar Capital and Kingdon Capital, has set up Flowering
Tree Investment Management in Singapore. Rajesh plans to launch a new Asia ex-Japan
long/short equities strategy in April 2009.
3 Nov 2008
Former GLG star trader Philippe Jabre, who set up his own shop in 2007 seems to have
started to feel the pain like most of his hedge fund industry colleagues. Jabre Capital
Partners, headquartered in Geneva, has reportedly closed its Singapore office where he
employed six people. Jabre has also reduced its headcount in Geneva.
31 Oct 2008
Singapore-based hedge fund Tree Line Asia has bought Goldman Sachs' stake in a
number of companies, including Mount Everest Mineral Water, United Phosphorus and
Igarashi Motors, on the open market since the beginning of October.
29 Oct 2008
Lionel Semonin, a former managing director in the global commodity investor derivatives
group at BNP Paribas, has established Four Elements Capital in Singapore.
20 Oct 2008
Singapore-based Artradis Fund Management, with an AUM of US$4 billion, plans to raise
US$500 million for an Asian convertible bond fund. The fund will invest in undervalued
convertible bonds throughout Asia, including Japan.
13 Oct 2008
Praesidium, a Dubai-based client advisory firm, has recently opened its offices in
Singapore. Praesidium advises financial institutions on matters such as Islamic Finance
structuring as well as setting up DIFC-based companies and funds. Felix Sim, previously an
active member in the Singapore hedge fund industry, is now a Middle East fund consultant
with Praesidium.
6 Oct 2008
Singapore-based Tantallon Capital has reportedy closed its Asian-focused US$18m
Smaller Companies Fund following poor performance.
2 Oct 2008
The combined wealth of Asia-Pacific's millionaires increased 12.5% to US$9.5 trillion last
year. According to a new Merrill Lynch and Capgemini survey, covering Japan, India,
Australia, China, Hong Kong, Indonesia, Singapore, Taiwan, and South Korea, the number
of high net-worth individuals in these countries increased 8.7% to 2.8 million people,
making Asia Pacific home to 27.8% of the world's high net-worth individuals.
24 Sep 2008
Alternative asset manager the Duet Group is expanding with a new subsidiary in Singapore,
Duet Asia.
23 Sep 2008
Singapore-based Chirin Capital is launching the Chirin Asia Absolute Alpha Fund. The fund
will invest in Asia ex-Japan. The investment team will be split between Singapore and
London and headed by the firm's CIO, Martin Shenfield.
22 Sep 2008
The Eurekahedge Asian Hedge Fund Index returned an estimated -2.29% in August and
-12.59% YTD.
19 Sep 2008
Despite the craziest week in modern Wall Street history, hundreds of hedge fund managers
and investors came out to play at the Tower Club for the second Singapore Hedge Funds
Club networking evening.
10 Sep 2008
Cerulli Associates, an Asian financial services research firm, has promoted Ken Yap to
head up its Asian office in Singapore.
3 Sep 2008
Platinum Capital, a London-based US$1 billion hedge fund and fund of funds manager,
plans to expand into Asia and will start by opening an investment office in Singapore.
1 Sep 2008
Concordia Advisors is reportedly shutting down its Asian multi-strategy fund that has been
run from Singapore.
29 Aug 2008
Samsung Securities is reportedly setting up an alternative investments desk in Singapore. It
is not yet established if Samsung Securities plans on running its own funds or if it will invest
with external hedge fund managers.
28 Aug 2008
Catalin Burlacu has left Millennium Capital Management, where he was a portfolio
manager, and has joined. Accelera.
23 Aug 2008
NewSmith is understood to be relocating its portfolio managers from Hong Kong to
Singapore. The firm also has investment professionals in Tokyo.
22 Aug 2008
Tokyo and Singapore-based TY Advisers, who advises the Hachiman Capital Japan equity
long/short fund, has hired Masamitsu Akahane as a Japanese equity analyst, based in
Tokyo. Prior to joining the firm, he used to work for Ramius Capital Group, a global hedge
fund manager with US$12 billion in AUM and was part of a pan-Asian events team and prior
to that, he worked as a Japanese equity analyst at another hedge fund, RJM Advisors/GCI
Asset Management. He is 33 years old and has a MBA degree from Columbia University,
New York, and a BA degree from Senshu University in Tokyo.
12 Aug 2008
The CME Group will host a presentation for hedge fund managers and investors featuring
Michael Coleman of Aisling Analytics in Singapore on Sep 18.
J.P. Morgan will host a hedge fund investor event featuring Paulson & Co and Horizon in
Singapore on September 16
11 Aug 2008
Lincoln Valentine, a hedge fund analyst for fund of hedge funds shop RMF in Singapore and
Tokyo for the past four years, has left the firm.
6 Aug 2008
The much talked-about launch of former Merrill Lynch investment banker Dow Kim’s
hedge fund firm Diamond Lake Investment Group seems to have been shelved forever
following the failure of its seed investors to pay up. The firm, which also planned to have a
Singapore office, was initially expected to have launched with over a billion dollars.
3 Aug 2008
According to data compiled by Hedge Fund Research, fresh inflows into Asia-focused
hedge funds fell by 50% to US$530m in the second quarter compared to the first quarter.
Capital invested in Asian hedge funds is now an estimated US$100.48 billion.
29 Jul 2008
Shin Kubo, previously at Russell Investments in Tokyo and London, has recently relocated
within the firm to Singapore where he will work on hedge fund manager research.
25 Jul 2008
According to the 2007 Singapore Asset Management Industry Survey, which has just been
released by the Monetary Authority of Singapore, the number of hedge fund and funds of
hedge fund managers in Singapore has increased by more than 50% to almost 300. Total
assets managed by these firms doubled to more than US$55 billion as of the end of 2007.
21 Jul 2008
Former Morgan Stanley analyst Rob Hart has resigned after 12 years to join alternative
asset manager Sansar Capital Management in Singapore.
18 Jul 2008
Highland Capital is about to establish an Asia-Pacific regional office in Singapore. The
office will be headed by Paul Adkins who will relocate from Dallas to Singapore.
16 Jul 2008
The June estimate for the Eurekahedge Asian Hedge Fund Index is -3.55% which brings the
YTD performance to -8.74%.
10 Jul 2008
New York-based US$20 billion alternative asset manager Angelo, Gordon & Co is believed
to be planning to open a Singapore office.
9 Jul 2008
Singapore's Felix Sim has joined Dubai-based advisory firm Praesidium.
The International Monetary Fund's sovereign wealth fund working group has gathered in
Singapore today to discuss a code of ethics.
2 Jul 2008
Singapore-based US$400m+ Asian distressed debt hedge fund firm 3 Degrees Asset
Management, led by Moe Ibrahim, has hired Michael Gilmore as a managing principal. He
will oversee the firm's daily operations as well as serve on its investment committee and act
as a portfolio manager of the ADF Special Opportunities Fund. Michael is a former head of
Asian consumer and media research at UBS and Nomura. He has also headed Indonesian
research at UBS and DBS.
24 Jun 2008
Singapore Exchange has appointed Jeremy Ang Peng Leong as the new CEO of Singapore
Commodity Exchange.
13 Jun 2008
London and Geneva-based fund of hedge funds manager Caliburn Capital Partners last
month opened its first Asian office in Singapore.
11 Jun 2008
David Lau, former Joint Head of Global Financial Markets at the Development Bank of
Singapore has joined the US$7.3b New York-based Galleon Group to head its new
Singapore office as well as co-manage the US$1.2b Asia multi-strat Galleon Asia Macro
Fund. He is also President of the Financial Markets Association.
Singapore-based 3 Degrees Asset Management, a US$400m Asian distressed debt-
focused fund, is reportedly planning to opportunistically target Australian assets such as
companies struggling to refinance their loans. The fund may also target companies that
took in too much leverage and are at risk of default.
8 Jun 2008
Chrissy Choong has relocated from Hong Kong to Singapore to open Value Partners' new
sales and marketing office in the Lion City.
7 Jun 2008
Fund of hedge funds giant RMF is understood to be considering expanding its Singapore-
based Asian investment team with one additional hedge fund analyst.
6 Jun 2008
Felix Sim, author of The New Alternative blog and a well-known face in the Singapore hedge
fund industry, is relocating to Dubai to take up a new hedge fund-related position. Felix has
previously worked for GCI Asset Management, Opes Prime Asset Management and Mizuho
Corporate Bank.
5 Jun 2008
Rebekah Pang has recently left KBC Alpha's fund of hedge funds team in Singapore.
1 Jun 2008
AIMA Singapore has published a new handbook called "Guide to establishing an alternative
investment business in Singapore". The guide covers regulatory, legal, operational,
employment, and commercial issues, as well as an overview of life in Singapore,