Credit Suisse Insurance Linked Strategies (CSILS) team has one of the longest track records in the ILS space dating back to 2003 when members of our team first managed ILS funds at Bank Leu, a former Credit Suisse Group subsidiary.
HSBC Global Asset Management had approximately $10bn of Structured Credit / ABS under management. The team is one of the largest in the industry, with 14 dedicated specialists whose sole focus is structured credit research and client investment.
The Classic Car Fund was launched in September 2012, driven both by a passion for cars and for uncorrelated alternative assets. The philosophy of The Classic Car Fund is simple; buy well-selected cars at attractive prices that have had a thorough evaluation by an independent expert, and sell them later at a profit. The fund is not focused on any specific make or production year, but emphasis is clearly on sports cars from various periods. Holding times vary vastly but the fund does not fall in love with its investments. Some cars have enabled the fund to realise a healthy double-digit profit in as little as three months, while others will remain in the fund for up to a few years. Also, and perhaps of more interest for most, against a small fee fund investors may borrow and drive some cars in the fund over a day or a weekend. If anyone asks you can truthfully say it is your car, as it is part of the fund you are an owner of.
Mt. Logan Re, Ltd. is the securitisation vehicle for Everest Re Group, Ltd. (NYSE: RE), one of the largest professional (re)insurers in the world. Mt. Logan Re, domiciled in Bermuda, is registered as a Class 3 insurer and a Bermuda segregated accounts company and has been in operation for nearly four years in the insurance-linked security market.
Mizuho Alternative Investments (MAI) is an investment advisor dedicated to developing and managing quantitative investment strategies. MAI was established in April 2007 as a subsidiary of the Mizuho Financial Group, one of the largest full service financial institutions in the world with total assets of approximately US$1.7 trillion (as of 12/31/2016) and a global footprint. MAI is located in New York and manages or advises on approximately US$3.7 billion in assets, primarily for institutional clients (as of 3/31/2017). Investment products managed by MAI include CTA and quantitative global macro strategies and risk premia solutions.
Founded in 1999, Pinpoint is an Asia-based investment management firm that serves institutional investors, pension funds, private banks, fund of funds, family offices and high net worth individuals. Pinpoint Asset Management Limited was incorporated in Hong Kong on 4 Jun 2010 and regulated by the Hong Kong Securities Futures Commission for Type 9 (asset management) activities.
QUAD Capital Management (QCM) was set up in Hong Kong in February 2014 as a subsidiary of QUAD Investment Management (QIM) based in Seoul. QIM, which runs US$2.5 billion AUM, had a vision, from its beginning back in 2010, to go beyond Korea in terms of investment geography as well as capital raising. QCM is the firm’s frontier to achieve this goal and currently manages QUAD’s three offshore funds of which QUAD Asia Absolvt Fund is the firm’s flagship fund. HK Choi runs QCM as CEO of the firm while managing QUAD Asia Absolvt Fund as CIO. He has total of 17 years investment experiences of which six years are in distressed debt and private equity investment followed by 11 years in public equity hedge fund industry including six years at Eton Park.
VL Asset Management Limited was founded in 2009 in Hong Kong by veteran investor Vincent Lam and ex-lawyer Adrian Wong. The company, being a home-grown boutique house though, has strengthened its team from two to nine members in less than seven years. Its flagship, VL Champion Fund, with a long-short equity mandate, was launched in mid-2009 and has been up and running with a loyal and steadily-growing investor base. VLAM launched an authorised fund VL China Fund in August 2015. Vincent Lam shares with Eurekahedge the fund's investment strategy.
36ONE Asset Management is an independent owner-managed specialist investment manager based in Johannesburg, South Africa. Our investment philosophy is to focus on fundamental analysis while using a macro overlay to understand which themes complement our fundamental approach and for risk management purposes with the aim of generating above-average real returns. We continually manage our investments in a flexible manner to reflect changing market conditions. Cy Jacobs shares with Eurekahedge the fund's investment strategy.
InnoFusion Capital Management runs a multi-strategy fund focused in relative value/arbitrage strategies. The fund invests in a wide range of asset classes and financial products, including equities, fixed income, convertible bonds, commodities and derivatives. During the last 10 years, the fund return 14.35% per annum with very low correlation to various markets and asset classes. Dr. Leung Wing Cheong, CEO and CIO shares with Eurekahedge the fund's investment strategy.
Noemi Holecz, a risk and portfolio manager of Loyal Explorer Fund shares how the fund stands out from competition through advanced quantitative methodologies utilised by Colombus Investment Management.
AXA Investment Managers is an active, long-term, global, multi-asset investor focused on enabling more people to harness the power of investing to meet their financial goals. By combining investment insight and innovation with robust risk management, AXA IM has become the chosen investment partner of investors worldwide. Eurekahedge speaks to Larry Jones, Head of Portfolio Management, Alternative Solutions to find out more.
Founder and Portfolio Manager Tom Lin has extensive experience in the Asian equity markets as an analyst, investor, and an investment banker. Prior to founding the firm, Mr. Lin managed and launched technology equity sales units for Merrill Lynch, Lehman Brothers, and Deutsche Bank, as well as held a sector analyst role at Anthion Capital. Mr. Lin lived and worked in both Taiwan and Hong Kong for a combined 20 years.
With 20 years of experience in wealth management, the CEO of Abacus Asia Management, Alex Goh discusses the fund's origins and strategy, as well as overcoming challenges faced in the Asian markets.
Saemor Capital is a specialist in quantitative investment management, focused on absolute return generation. The company was founded in 2008 with the backing of insurance company AEGON as a cornerstone investor. The team consists of award-winning equity managers with vast experience in European equities. The majority of the investment team has worked together for over eight years. Managing approximately US$600 million, Saemor Capital is AIFMD-regulated and eligible to passport its distribution activities across Europe.
Holding 25 years of experience in trading and equity derivatives business in Hong Kong and the United States, Dr. Leung Wing Cheong, CEO and CIO at InnoFusion Capital Management discusses China’s intention to internationalise the renminbi and factors behind the fund’s success in achieving over 16% of returns in 2008.
Qato Capital is an Australian-based alternative funds management group backed by single family office, Larkfield Funds Management. The Market Neutral Long/Short Fund is managed via an objective, consistent and replicable process utilising Qato Capital’s proprietary ‘Q-Score’ methodology. The Q-Score process is fundamentally based, evaluating improving and deteriorating fundamentals within each business from a variety of financial metrics, such as valuation, growth, risk, quality, earnings & price.
Founded in 2003, EuroFin Asia Group is an independent specialty finance house offering investment opportunities across the capital structure spectrum, with a focus on real economy businesses and is located in Singapore and Geneva. With 25 years experience in trade finance, structured finance and commodities trading, get a flavour of commodity trade finance with Christian Stauffer, CEO at Eurofin Asia Group on how the structural aspects of financial trading funds offer growing opportunities in the Asian banking ecosystem despites the regulations most recently brought by Basel III.
Launched on 1 July 2014, GCI Systematic Macro Fund has delivered triple-digit return as of the end of February 2015. Taking into account the performance of the managed account which employs the same strategy was started on 3 February in the same year, it has attained 167% as of the end of February 2015. Its fund manager Kyo Yamamoto reveals the fund's strategy which is a fully quant model-based, and dynamically takes on long/short positions in liquid FX and listed financial futures around the globe.
Gen2 Partners (Gen2) is one of the leaders in customised Asian Hedge Funds for Institutional Investors and Family Offices, in addition to being a trusted partner to help manage investors’ exposure to Asia across all Asian alternative strategies.
With 30 years of investment experience, 6 offices around Asia and approximately US$3.2 billion in total assets, Wong Kok Hoi, Founder & CIO at APS Asset Management, discusses the challenges and opportunities of investing in Asia.
Through this video interview, Wong Kok Hoi shares his investment philosophy, reasons attributed for strong performance during 2008 to 2009, the investment environment post-Madoff and the challenges hedge fund startups face in current times.
India Zen Fund is a long-only bottoms-up approach equity fund that specialises in investing in Indian Mid-cap securities. It is sponsored by Motilal Oswal Asset Management (Mauritius) Pvt. Ltd. which is Mauritius domiciled Investment Manager and promoted by Motilal Oswal Asset Management Company Limited (MOAMC) of India.
Motilal Oswal Asset Management Company (MOAMC) provides Investment Management and Advisory services to investors based within and outside of India and having Portfolio Management Services (PMS) business, ETFs business and Mutual Funds business. The firm’s total assets under management (AUM) is little over US$700 million across different products.
A new exemption from the requirements of Jersey’s Financial Services (Jersey) Law 1998 (FS(J)L) has been introduced which will enable Jersey-regulated fund managers to service qualifying segregated managed accounts (QSMAs) without the need for further regulation in Jersey while continuing to benefit from Jersey’s 0% corporate income tax rate.
GaveKal Investments was founded in 2012 in Luxembourg and is fully owned by GaveKal Capital Limited, the investment management arm of the GaveKal Group. GaveKal is known as one of the world's leading independent providers of global investment research. Founded in 2001 by Charles Gave, Anatole Kaletsky and Louis-Vincent Gave, it counts today eight partners and 45 employees with offices in Hong Kong, China, Europe and the US.
Eurekahedge speaks to Steve Knabl about Swiss Asia, a hedge fund platform and incubator for start ups. As an Independent Asset Management firm with its base in Singapore and an office in Hong Kong, Swiss Asia currently manages US$1.5 billion split between wealth management and asset management platforms.
VisionGain Capital (Cayman) Limited and VisionGain Capital Limited (collectively “VisionGain Capital”) were founded in 2007 and their investment team has extensive experience and knowledge in investing. Backed by the research and corporate network of its strategic investor and business partners, VisionGain Capital aims to combine the discipline of investment management with its global value chain investment approach to capture the investment opportunities globally.
CQS is a multi strategy asset management firm with US$12.6 billion of assets. The business was founded by Sir Michael Hintze in 1999. CSFB seeded the launch of their first fund in March 2000 and they have since expanded to include additional strategies and bespoke solutions in the areas of multi-strategy, convertibles, asset backed securities, credit, loans and equities. CQS has always placed fundamental analysis at the heart of their investment process and looks across companies’ entire enterprise value – debt and equity – to assess relative value across a corporate’s capital structure.
Eurekahedge: Winton Capital Management has an illustrious track record in the industry and has seen strong asset allocations to its global CTA/managed futures fund over the years. What had you originally envisioned for the company when setting it up 16 years ago and how, in your opinion, has it evolved since then? Could you also shed some light on the secret behind the firm’s longevity and how, in particular, has it managed to retain its appeal over the years.
VL Asset Management Limited was founded by me and Adrian Wong, our Chief Operations Officer, in 2009. The other owner of the business is Victor Tsang who joined us as Portfolio Manager (PM) in 2011. Adrian used to be a solicitor and has long experience in listings and M&As. He has been an investor in the funds I managed dating back to almost 12 years ago. Victor began his career as a Research Analyst in 2000 under my guidance and has then performed key investment roles at Quam Asset Management, Ping An China Asset Management (HK) and CICC HK Asset Management. Having known one another for more than a decade, the cohesion has enabled us to work efficiently. The three of us have and will maintain significant investment in the firm and the fund. In fact, every year, part of the received performance fees is invested in the fund and currently, partners’ money represented more than 11% of the fund’s AUM.
Axonic Capital LLC is a New York based trading and investment firm founded by Clayton DeGiacinto in 2010. The firm's primary business is to manage client capital through structured credit, systematic mortgage, mezzanine lending and real estate strategies. Axonic and its affiliates manage over US$1.8 billion in assets and employ a staff of over 30 professionals including traders, research analysts and administrative personnel. Axonic Capital is a Registered Investment Advisor.
Conclave Capital is a multi-strategy hedge fund focused on generating positive (absolute) returns, regardless of prevailing market conditions. It uses a combination of quantitative model driven trading and qualitative macro positioning to maximise client returns. Eurekahedge interviews its Chief Investment Officer, David Ward.
The firm, SRF Group Pte. Ltd., was founded in Singapore and is responsible for the investment decisions of SRF Germinate Fund as an investment manager. The firm currently operates in Singapore as a Registered Fund Management Company (RFMC) under the requirement to hold a capital markets services licence to carry on business in fund management pursuant to the Securities and Futures Regulations.
Progressive Capital Partners Ltd (Progressive) was founded in 2001 and specialises in advising clients on alternative investments. We believe in the existence of periodically inefficient markets and irrational behaviour of market participants respectively and that these inefficiencies can be exploited by active investment approaches.
Progressive acts as investment manager of funds and private mandates (managed accounts) which in total exceeds US$660 million (per January 1, 2014).
Integral Capital Pte Ltd is a Singapore-based independent boutique fund management company. It is founded and wholly owned by its three principals, who have approximately 60 years of combined Asian investing experience. The firm operates as a Registered Fund Management Company (RFMC) under the Securities and Futures (Licensing and Conduct of Business) Regulations [SFR] in Singapore. Integral Capital specialises in the equity markets in the Asia Pacific region, and currently is the manager of the Integral Asia Value Fund.
Balestra Capital was founded by James Melcher in 1979 as an investment advisor for high net worth clients. In 1999 Mr. Melcher and Norman Cerk, who joined the firm in 1997, co-founded the firm's global macro strategy. Matthew Luckett joined Balestra Capital in 2004 as a partner and co-portfolio manager. Prior to joining the firm Mr. Luckett was a venture capitalist and senior operating executive for three years, following the sale of his firm SoundView Technology Group where he was a Principal and Senior Research Analyst - to Wit Capital and subsequently to Charles Schwab. Balestra Capital is an SEC registered investment advisor since 1987 and, beginning in 2013, a CFTC registered commodity pool operator and member of the NFA.
Eurekahedge interviewed Henry P. Davis, Managing Director at Arden Asset Management, an independent privately held firm focused in liquid alternatives that is 100% employee-owned/controlled. Headquartered in New York, the company consists of 62 employees in New York and London, including 24 investment professionals that are involved in top-down market analysis and bottom-up manager investment research. Arden Asset Management is registered as an investment adviser with the US Securities Exchange Commission and as a Commodity Pool Operator and Commodity Trading Advisor with the Commodity Futures Trading Commission. The UK office is also authorised and regulated by the UK Financial Conduct Authority. With current AUM at approximately US$6 billion, Arden Asset Management focuses solely on creating and managing portfolios of hedge funds. Institutional investors comprise 85% of the AUM and the remainder are from high net worth as well as retail investors.
Established in 1988, First Quadrant (FQ) is an innovative investment management firm specialising in dynamic asset allocation and equity strategies. Our client base consists of institutional investors around the globe. Headquartered in Pasadena, California, we actively manage approximately US$16.8 billion as of June 30, 2013. In 2013, Eurekahedge interviewed Jeppe Laderkarl to obtain more insights on the fund's strategy to continuously outperform the market.
QTR (Quantitative Trading Research) Invest has its origin as a retirement plan of three entrepreneurs. With good skills in data-analysis and a common sense, a quantitative trading strategy was developed. Because of the chemical scientific background of the founders, the trading strategy was based on conceptual ideas from chemical and pharmaceutical process & product development.
Founded in 1972, Campbell & Company specialises in systematic managed futures and equity market neutral strategies, including a diversified blend of trend following, systematic global macro and short-term tactical trading. The firm manages approximately US$3.1 billion across global financial, commodity and equity markets for institutional and private clients worldwide.
Skandinaviska Enskilda Banken AB (publ) (SEB) has over 150 years of experience as a leading financial institution in the Nordic region. The group is present in 20 different countries, employing approximately 16,000 individuals. The bank serves 2,800 large corporates and institutions, 400,000 small-and medium-sized companies and 4 million private customers. In the Nordic countries, SEB has a particularly strong position in Asset Management, Merchant Banking and Private Banking.
Milltrust International is a global investment firm that provides institutional investors with a platform of world-class regional Emerging Markets Funds each managed by leading locally-based investment managers. Milltrust now has five actively-managed and unconstrained Emerging Markets Equity Funds (Greater China, India, Brazil, Latin America and South East Asia) structured in partnership with State Street who are providing the independent custody, administration and transparency for the funds.
Athenaeum Limited is focused on maximising the risk and return trade off in Asian Equity investment anchored around our low volatility investment strategy. We give investors access to dynamic Asian Markets with managed risks, and are the only low volatility fund in Asia ex Japan equities. Our approach to portfolio management seeks to provide investors with consistent returns, greater capital protection and diversification within Asia.
Stenham has been active in investment management for over 25 years focusing exclusively on delivering strong absolute returns, achieving a multiple award-winning track record. In this interview, Eurekahedge questions the CIO and Investment Director on it entry into funds of hedge funds. Over 70% of the assets which Stenham currently manages originate from private banks, trust companies, asset managers, pension funds and other institutions in the UK, Europe, Channel Islands, the Caribbean, South Africa, Latin America, the Middle East and Japan. Providing market leading solutions for institutions, charities, private banks and family offices, including both discretionary portfolios and funds, Stenham’s total assets as at February 2013 are US$ 2.1 billion. The balance of assets is managed on behalf of the original families and other high net worth private clients in all those territories and elsewhere.
Dhawal is the Head of the Equity Investments Team at Reliance Asset Management Singapore (RAMS) and Portfolio Manager of the IEGF LT since August 1, 2010. With over 19 years of experience in Indian equities he is a well-known name in the industry. He joined RAMS in March 2010 from Deutsche Asset Management (Asia), Singapore where he managed a US$600 million long-only India dedicated equity portfolio. Prior to Deutsche, Dhawal managed India equity funds at HDFC Asset Management as a Senior Fund Manager handling six equity mandates totaling US$600 million. He spent over five years at Alliance Bernstein doing Asia ex-Japan, Hong Kong, Singapore research on commodities and discretionary consumer sectors.
Samir Arora is the Founder and Fund Manager of Helios. His partners at Helios Capital are Dave Williams, who was the Chairman and CEO of Alliance Capital Management for over 20 years and Karan Trehan who was Chairman of Alliance Capital Management (India) from 1994 to 2005. Helios employs six employees in Singapore and its exclusive advisor has three employees based in Mumbai. The four investment professionals at Helios and at the Advisor have more than 80 years of India investment experience.
Founded in 2005, Guardian Capital Management Ltd. is based in Hong Kong and serves mainly HNWI and family offices around the region. The firm’s emphasis lies in finding strategies and asset classes with the highest risk/reward ratio.
Marko Ho is in charge of all investment decisions of the fund as Legends Asset Management’s CIO. Being the general partner he is also responsible for the firm's strategies definition and execution. He has over 10 years of investment experience in HK/China markets. Prior to establishing the firm, he was a portfolio manager of Societe Generale Asset Management (SG Asset Management). During his time at SG Asset Management from 2008 to 2010, his China fund which focused on small-mid caps was consistently ranked at top 3 in Greater China universe. Before joining SG Asset Management, Marko worked at a hedge fund - Quam Asset Management, where he was an Assistant fund manager/Senior research analyst initialising the long/short strategy in HK/China, A and B share markets. Mr. Ho holds a Bachelor of Business Administration (Hons) degree from The University of Hong Kong. Before joining the investment industry, he had many years' experience in running a manufacturing business in China.
Ioannis Gaiganis reveals the success of the Cayman based fund in this interview with Eurekahedge. Essentia SPC was established on 26 October 2009 in the Cayman Islands and has two segregated portfolios – the Essentia Managed Futures from 4 April 2010 and the Essentia Diversified Derivatives from 1 January 2012 on initial offering period until 1 July 2012. The AUM of Essentia Managed Futures stands at US$5,109,410 at the end of May 2012.
Fabrice Cuchet is the CIO of Alternative Investment & member of the EXCO at Dexia Asset Management. The Alternative Investment department at Dexia Asset Management has been responding to institutional investor demand for alternative investment for over 15 years through a broad range of more than 30 funds including 22 UCITS, covering 15 different strategies and managing around €4.4 billion.
VL Asset Management, founded in January 2009, is a Hong Kong-based investment firm licensed by the Securities and Futures Commission (SFC) of Hong Kong. In its team of eight, four are investment professionals with complementary skills across fund management, equity research, equity trading, journalism and company audit
Central Asset Investments (CAI) is an Asia focused multi-strategy investment firm licensed by the Securities and Futures Commission (SFC) in Hong Kong. Founded in April 2005, the firm is headquartered in Hong Kong with a research office in Shenzhen, China. The CAI team consists of 17 professionals working across portfolio management, research, risk management, operations, and investor relations.
Caliburn Capital Partners is a thematic fund of hedge fund manager, founded in early 2005 with institutional backing of US$25 million and managed by a team of five seasoned investment professionals with 125 years combined experience of successfully managing hedge funds, funds of hedge funds and investment banking prop trading teams.
Dr Booth is Head of Research at Ashmore Investment Management and a Member of the Investment Committee. He joined ANZ in 1994 and was Head of Research for the Emerging Markets Group, then Capital Markets and then Head of Markets Research for ANZ Investment Bank with global responsibility for fixed income and foreign exchange research. Prior to joining ANZ Dr Booth was Senior Strategic Planning Officer at the Inter-American Development Bank in Washington DC. Until 1991, he ran a consultancy business advising on aid and trade-related issues for four years.
George Coplit is a Principal at LGT Capital Partners. He is a portfolio manager and competence centre head for CTA/global macro strategies. Prior to joining LGT CP in 2007, George worked at Ivy Asset Management in New York where he was head of tactical trading strategies. Prior to Ivy, he was responsible for model development at Stonebrook Structured Products, a registered CTA, which he joined in 2000 following his tenure at Kenmar Advisory Corp. He began his career as a registered representative for Scudder, Stevens & Clark in Boston, following his graduation from Tufts University in 1992, where he received his Bachelor of Arts degree.
Cato Brahde is the Managing Director of Tufton Oceanic (Isle of Man) Limited. Mr Brahde heads up the Tufton group's equity fund management activities comprising Oceanic Hedge Fund and Oceanic Small Cap Fund.
Mr Kuhn is the lead Portfolio Manager for the Nisswa Fixed Income Fund. Prior to joining Pine River, Steve was a Portfolio Manager at Goldman Sachs Asset Management based in New York and Beijing, where he was part of a team that managed mortgage-backed securities. Steve received a Bachelor of Arts in Economics with honours from Harvard University. Founded in 2002, Pine River Capital Management manages over US$4 billion in assets, over a number of funds. The firm is comprised of 121 staff, which includes 42 investment professionals. Pine River has offices in Minnetonka, London, Hong Kong, New York and San Francisco.
Founded in 1995, APS provides fund management services specialising in Asia Pacific equity investments. APS is a fully independent firm owned 100% by its employees. Mr Wong Kok Hoi, founder, Chairman and CIO of APS, has more than 29 years of investment experience. APS has three teams of 24 investment professionals based in Singapore, China and Japan, managing three key products, ie, Asia ex-Japan, Greater China and Japan equities.
Founded in 1995, GLL Investors manages five multi-manager hedge funds – all of which have posted superb returns – while maintaining unusually low-risk profiles with little or no leverage. The largest and oldest fund, GLL Investors, LP, has recorded a 10.26% average annual return over 15 years with a beta of only 0.22. Since inception, GLL is up 287.29% net through June 2010 while the S&P 500 is up 124.42%. GLL Single Strategy, which we created in 1999, invests primarily in hedge funds that specialise in PIPEs (Private Investments in Public Equities).
Jiffriy Chandra tells us more about his investment platform that covers all asset classes in the Asian markets covering high grade and sovereign credit, high yield, special situation, distressed and restructuring opportunities, equities and macro fund products. Income Partners is a Hong Kong-based asset management company dedicated to the Asian emerging markets that provides independent asset management and investment advisory services to institutional, private and high-net-worth investors, foundations, pension funds and government agencies. Headquartered in Hong Kong with offices in Beijing and Singapore, we are authorised and regulated by the Hong Kong Securities and Future Commission and registered with the Japan Financial Securities Agency (FSA).
Managed by Cypress House Asset Management Company, the China Dragon Engine Fund employs a long/short equity strategy, investing in Hong Kong markets and Chinese enterprises that are highly related to China's economic growth. Its CEO, Xiaobo Long reveals the fund's investment strategy in this interview.
Dharmin Mehta discusses the strategies deployed by Capveda Asset Management Limited. The Capveda Emerging India Fund is owned and managed by Capveda Asset Management Limited (CAML). The asset management company and its fund are both domiciled in Mauritius. CAML specialises on the development and implementation of market neutral strategies and fund management. It has recently launched an India-centric market neutral fund for global investors. The fund derives its alpha from market volatility and inefficiencies and not market trends. The fund is based on the algorithmic trading model. “AT” refers to the strategies that give automated trading signals based on the proprietary algorithm/formula built on certain mathematical models.
The Superfund group of investment companies was founded in 1995 by Christian Baha in Vienna, Austria, and are now among the world’s largest providers of managed futures funds. In March 1996, members of the Superfund group of investment companies launched the first fund for private investors. By 1997, with further refinement, the award-winning Superfund trading strategy emerged, resulting in a fully automated approach to trading.
Dermot Butler, Chairman of Custom House Global Fund Services Ltd (CHGFS), has more than 35 years’ experience in the financial services industry. Butler has worked as both a stockbroker and stock jobber (market-maker or specialist) on the London Stock Exchange; and subsequently, as a commodity broker and as a principal dealer in commodity options on the London Metal and London Commodity Exchanges.
Foundation Asset Management (HK) Ltd, regulated by the Securities and Futures Commission Hong Kong, is an independent China-focused asset management company, committed to maintaining a focus on absolute returns and delivering comparative performance through a disciplined risk-adjusted investment process in all markets. In this interview, Eurekahedge speaks to its hedge fund manager and CIO, Michael J. Liang.
Gorelick Brothers Capital, established in 2003, manages the Morrocroft Special Opportunity Fund I, a hybrid fund of funds with a private equity structure, focused exclusively on real estate credit strategies. The firm’s investment team has decades of experience in subprime consumer lending, residential mortgage information and settlement services, structured credit securitisation and trading, and commercial real estate investment and analysis. The firm also manages the Morrocroft Diversified Fund, a multi-strategy fund of hedge funds launched in 2005 with a wealth preservation mandate.
Capricorn is an established currency manager with a global client base that includes banks, asset allocators, institutions, investment funds and high net worth individuals. The company has more than 50 years of experience within the investment advisory arena, currently advising over US$250 million in client assets. Since 1999 Capricorn has produced superior risk-adjusted returns in its 'pure alpha' strategies managing an additional US$75 million, trading high liquid currencies as managed accounts and offshore funds for individual and institutional clients
ChinaFund Cayman Ltd, a limited exempted company organised under the laws of the Cayman Islands, is a private hedge fund with offices in Chicago and Shanghai. Previously known as DragonFund LP, it has a track record of more than ten years of trading.
The fund invests globally with a special focus on Chinese ADRs and Hong Kong shares as well as US equities with significant assets, investments, production activities, trading or other business interests in China, or which derive a significant part of their revenue from China.
The Living Planet Fund Management Company was set up by WWF International, one of the largest environmental organisations in the world. It has been created in 2003 to manage the Living Planet Fund, a socially responsible investment (SRI) fund. The Living Planet Fund is a Luxembourg, UCIT's III Fund managing EUR$27.2 million and showing a performance in euro of 25.6% since inception for its Class B (data as at end June 2008).
Minlam Asset Management LLC is a New York-based investment firm providing financial solutions for emerging markets. Minlam creates and manages financial products to address the increasing number of commercial opportunities in microfinance. Microfinance is the provision of diverse financial services to low-income entrepreneurs. Microfinance investments have a successful track record and represent an attractive investment opportunity with compelling social benefits for the four billion people that constitute the Base of the Economic Pyramid (BOP). In this interview, Eurekahedge speaks to Michael Hokenson, Co-founder and Managing Director of Minlam Asset Management LLC.
Moonraker Fund is a new investment management firm based in London. Moonraker specialises in the management of hedge funds of funds and wishes to attract high net worth and institutional investors. On 1 June 2008, the firm launched the Moonraker Commodities Fund, a commodities fund of funds, offering exposure to exchange-traded and non-exchange traded commodities.
The Agamemnon Equity Trading Fund was established by Stephen Ellis in November 2007. The initial methodology was developed over a 3-year period. Tolhurst Ltd is a publicly listed financial services group that recently celebrated 150 years of serving the investment needs of Australians. The benchmark for performance for the investment manager was established whilst working on a trading desk at Salomon Brothers Inc, London, in the mid-1990s.
Antara AMC, formed in February 2007, is the investment manager of Antara India Evergreen Fund (AIEF), an India dedicated long/short fund. Antara is regulated by FSC in Mauritius. AIEF targets an absolute return of over 20% with a volatility of approximately 12%. Since its launch in November 2007, Antara India Evergreen Fund has outperformed Nifty Index by over 17%. The fund has a current AUM of US$15 million.
Sid Klein began in the securities industry as a stockbroker in 1982, focusing on large-cap US value stocks and derivatives. Following Brault Guy O’Brien, Sid joined Midland Doherty in 1984 and then Prudential Bache Securities in 1987. By 1989, his focus had shifted to Japan. Actively trading long-term euro-put warrants from the peak, Sid became acquainted with the OTC derivatives business, as a result of which he began structuring long-term warrants on baskets of stocks. The focus was those stocks whose long-term performances he expected to be in-line with equities whose volatilities in the shorter run were much higher, thus causing higher volatility premiums.
Thales was founded by Dr Marek Fludzinski. Dr Fludzinski has a PhD in theoretical physics from Princeton and worked for DE Shaw, Swiss Bank and Hull Trading prior to founding Thales. Thales’ senior investment team has over 13 years’ experience working together. The firm manages approximately US$1 billion in assets and employs approximately 50 people, half of whom are devoted to research.
In this hedge fund interview of 2008, Eurekahedge explores the investment choices of Prodigal, a Cayman-based fund which was set up in 2005 by Michael Munns. A qualified actuary, Munns was most recently a global head of equity linked trading at Merrill Lynch and before that, a fund manager at County NatWest.
UBL Fund Managers Limited (UBLFM) is a wholly-owned subsidiary of United Bank Limited, making it the first asset management company to be launched by a bank in Pakistan. In this March 2013 interview, Eurekahedge meets Khashe Ahmad Lodhi, Head of Islamic Fund at UBLMF to talk about the remarkable performance of the fund, its portfolio diversification and risk control. UBLFM has been operating since the year 2002 and are currently ranked number 1 in both assets under management (AUM) in fixed income schemes and in terms of AUM of private sector open-end mutual funds (out of 35 existing companies). UBLFM has been awarded a Management Quality Rating of AM2 Minus by JCR-VIS Credit Rating Company Limited.
Pharos Financial Group is one of the most experienced fund managers specialising in the securities markets of Russia and the former Soviet Union. With a 10-year history through up and down markets, Pharos has a proven record of superior absolute returns. Pharos' strength lies in its management unparalleled experience in the growth and development of Russian capital markets and the resulting insight into market events, opportunities and trends. Pharos principals have in-depth, personal knowledge of Russian companies, their history and management. Its management also has extensive Western capital markets experience and the technical expertise to handle complex opportunities involving derivatives and structured product.
Sabre Fund Management is one of the oldest names in the London hedge fund business. Originally founded as a CTA in 1982, the business has evolved through time via acquisition of new teams bringing new experience, and the continual research and development programme.
Sabre’s core business is the management of quantitative strategies (since 1997) and it was the first European hedge fund manager to focus on “Style Investing” as a means of generating alpha (the strategy was introduced to investors in 2002).
Zaigham Shah has been executive vice-president of frontierAlt Investment Management Corporation since December 2006. Prior to June 2006, he was advisor to Oman National Investment Corporation Holding SAOG, and before that he was vice-president, asset management division of The Financial Corporation (FINCORP). Zaigham Shah is also currently chief executive officer and chief investment officer of MAK, Allen & Day Capital Partners Inc, which is the advisor to the frontierAlt funds.
Driven by the capital market reforms, the booming Saudi and regional economies, increasing liquidity and depth of the capital markets and strong future outlook, a group of prominent businessmen and leading investors in Saudi Arabia, have come together to form FALCOM Financial Services. FALCOM is a full-service investment bank licensed by the Capital Market Authority (CMA) for dealing, advisory, managing, arranging and custody.
OSK-UOB Unit Trust Management Berhad (OSK-UOB) manages the OSK-UOB Muhibbah Income Fund, a Shariah-compliant global balanced fund which invests up to 60% in Malaysia Islamic debt instruments and money market instruments, and up to 40% in Shariah-compliant securities of and securities relating to companies that have dividend and/or growth potential. In this interview, John Doyle discusses key opportunities and challenges associated with investing in these markets.
Eurekahedge speaks to Faisal Quttaineh, Senior Investment Manager of the Global Investment House (“Global”), a full-fledged investment company incorporated in 1998, which falls under the regulation of the Central Bank of Kuwait. Its underlying foundation is to meet the high expectations of local and international clients, and to enhance the investment service industry and the capital market in Kuwait and the region. Today, Global is listed on the Kuwait Stock Exchange, Bahrain Stock Exchange and Dubai Financial Market.
Charles Supapodok has over 15 years’ experience as an analyst and trader, with over seven years’ experience as an expert in the silver market. He started out as an equities analyst with Deutsche Bank in Bangkok before joining Credit Suisse First Boston in New York as an analyst in the M&A department. Subsequently he worked for several years as an equities analyst in Bangkok, covering stocks traded on the Stock Exchange of Thailand. In this interview, Charles Supapodok, introduces the Artemis Silver Fund.
Halbis Capital Management provides specialist, fundamentally based, alpha-seeking products including long-only equity, fixed income and hedge fund products. Halbis launched its first hedge fund vehicle in 1999, making it one of the earlier institutional players in Europe. Today, its line-up consists of six strategies with nearly US$1 billion under management. With respect to its historic performance in Indian equities, its cumulative returns since 1 March 1996 to 31 December 2006 were 1,336% vs 286% for the S&P/IFCI India Index (annualised 27.9% vs 13.3%).
Ajia Partners is a private partnership based in Hong Kong with US$1.8 billion AuM focusing on fund of hedge funds, private equity, real estate and public equity investments with a focus on Asia.
Founded in 1993, Hedged Return Strategies (HRS) is a leading Canadian investment manager specialised in alternative investment strategies. The firm manages core global multi-strategy funds of funds as well as niche Canadian funds of funds. The firm also manages customised hedge fund portfolios for large investors. HRS' investors include leading pension plans, endowment funds and family offices.
UFG Asset Management, an independent investment management firm specialising in traditional and alternative investments in Russia, launched a new hedge fund on 1 November 2006. UFG Russia Alternative is launched as a hybrid investment vehicle to capitalise on less liquid investment opportunities in the Russian equity market, but will also invest in non-listed companies that will come to the market within 12-24 months. The fund pursues a very opportunistic investment strategy that focuses more on actual access to deals than on a pre-determined and static strategy. UFG Russia Alternative will consider companies active in all sectors of Russia’s economy, reveals its Managing Partner Florian Fenner in an exclusive interview led by Eurekahedge.
Jemekk Capital Management is an employee-owned alternative asset manager headquartered in Toronto, Canada. Jemekk has two full-time portfolio managers dedicated to the company’s single investment product, the Jemekk Long/Short Fund. The fund is focused on a single investment objective – protecting and growing investor capital. Jemekk’s portfolio managers utilise a number of strategies which in combination are intended to generate consistent, superior and risk-adjusted returns. In this December 2006 interview, Eurekahedge speaks to Mark Tredgett, Managing Director of the fund about the different investment strategies employed.
Since 2002, Vincent Lam has been Chief Investment Officer of Quam Asset Management, an event driven fund based in China. He joined the Quam Group as a research analyst in 1999 and was promoted to Head of Quam Research in 2001. Before that, he was a financial journalist of two highly circulated local publications (1996-1999) during which he conducted interviews with the management of numerous listed companies and thus built up his knowledge on and network in different industries. Vincent holds a bachelor's degree in economics from Chinese University of Hong Kong and is currently reading an executive MBA.
Valu-Trac’s investment philosophy is that an investment in bonds or equities is essentially an exercise in buying future income streams. Valu-Trac systematically measures, projects and values those future income streams using objective assumptions on a globally consistent basis. They are then compared to price, which gives the “Intrinsic Value Yield” which is a measure of the potential income generation expressed as a compound annual real rate of return.
The FreeSpirit Group of companies manages and advises on approximately US$125 million of assets. FreeSpirit was founded in 2003 and has offices in Sydney, Singapore and Tokyo. Three products are offered by FreeSpirit Capital Management, a Cayman-domiciled investment management company. The Japan Long/Short Fund was launched in 2003, the Japan Opportunity Fund in 2005 and the Asia Fund, advised by Eric Sandlund, in August of this year. All investment personnel are significant investors in the funds.
Cole Asset Management (CAM) was formed in 2004 as an investment advisor, and its first proprietary product, Tellus Natural Resources Fund, a fund of funds dedicated to the commodities and natural resources sector, was launched in February 2005. Brad Cole has more than 20 years of industry experience, including ten years on the floor of the CME trading futures and options, then as part of a successful Chicago-based CTA. Developing and dissecting trading approaches has been at the heart of Cole’s investment career since 1980. Rian Akey, COO, has been working with CAM for more than seven years, primarily in a research and due diligence capacity.
Komodo Fund is a Cayman Islands incorporated open-ended mutual fund, with an Indonesia focus. The fund manager, HB Capital Partners, is a Cayman Islands incorporated Company, authorised by CIMA and with SIBL exemption. The investment advisor, PT HB Capital Indonesia, is incorporated as a PMA (foreign investment) company in Indonesia. James Bryson and Roland Haas are the directors and shareholders of HB Capital Partners and PT HB Capital Indonesia. The planned launch for the fund is 3rd quarter 2006, with an expected launch size of US$10 million.
Research into the New Zealand market indicated that investors were well served in terms of traditional market products but not alternative investments, especially hedge funds. As a result, 36South Investment Managers was incorporated in March 2001 and launched the Kohinoor Series One Fund to develop locally managed hedge funds investing in global markets. Richard Hollington, Managing Director of 36South Investment Managers Ltd, tells us more about the investment strategies and return the funds have generated.
Alphex Investments Company Limited is the advisor to the Arlington Alphex Japan Fund, a non-benchmark, absolute return fund focused on Japanese public equities across all market capitalisations.
Pinpoint Asset Management manages the China-dedicated Pinpoint China Fund. The fund was launched in June last year and currently has around US$40 million under management. The total return since inception was 45% net till the end of March 2006.
Daehan Investments & Securities is Korea's oldest and largest asset investment trust company. Formed in 1977, Daehan Securities took over the investment trust business from the Korea Investment Corporation; which was later dissolved. Following a recent merger, Daehan Securities now is part of the Hana Financial Group.
Tim Enneking is a founder and director of both the Tera Capital Fund and its investment manager, Altima Asset Management. Enneking is the chairman of Altima. He is also the director of corporate development for Optim Advisors, which manages over US$25 million in assets of the Diversified Property Fund (DPF), a fund focused on emerging European markets, as well as president of Optim's Metals Group and president of Magnesium.com, which include all DPF's metal production and trading activities. He is also chairman of the board of Amerim-1, which is constructing a warehouse complex between Moscow's Sheremetyevo International Airport and the main road link between Moscow and St Petersburg.
Takis Sparaggis, President and CIO, and Alex Tahsili, Managing Director of Alkeon Capital Management share the fund's investment strategy and market outlook in this exclusive hedge fund interview with Eurekahedge in March 2006. The Alkeon team spun off from CIBC Oppenheimer on 1 January 2002 (the oldest client Alkeon is advisor for was launched in January of 1998). The team is headed by Panayotis "Takis" Sparaggis, who is the controlling person of Alkeon and who coordinates all investment, trading and arbitrage activities. Alkeon's team consists of:
Avatar Investment Management (AIM) is the investment advisor to three funds. Headquartered in Mauritius, the funds are focused on the Indian public and private equity markets.
Imara began as Edwards & Co in Zimbabwe in 1954. Robert Fleming UK then bought a stake in 1994. Following the purchase of Robert Fleming UK by JP Morgan, an MBO in 2002 saw the creation of Imara. This new company operates in much the same mould as the old Flemings with three divisions: asset management, stock broking and corporate finance. Imara has been central to the financial development of sub-Saharan Africa, having established several of the regional stock exchanges over the years.
We interviewed Martin Wiedmann, Founding Partner and CEO of Quaesta Capital after they recently launched a fund of funds investing solely in FX hedge funds and CTAs. It currently has CHF85 million under management.
The Ton Poh Emerging Thailand Fund is managed by Ton Poh Capital, whose CEO is Brook Tellwright and advised by Bangkok-based Hunters Asset Management, whose CEO is Jeep Chatikavanij. Brook was previously an employee of British investment bank, Cazenove & Co. He has 20 years' experience, four of which were in Thailand, in analytical and fund management roles. Jeep was formerly director of institutional broking at Jardine Fleming Thanakom Securities. Jeep has been in the securities industry for 15 years now, and has founded Hunters in 2004.
The Arcus team, consisting of Robert Macrae, Peter Tasker and Mark Pearson, discusses its new long fund, Arcus Japan Fund (AJF).
AJF has returned 15% since inception in March 2005, with an annualised return of 24% and annualised volatility of 14%. The fund currently has US$90 million in assets.
A.R.C. Directors Ltd is a single service provider. Its only service is providing corporate and independent directorships to offshore companies, predominantly (though not exclusively) hedge funds. Alan Tooker, Managing Director of the firm shares the role, responsibilities and key skills needed for an independent director to suceed.
Gregory Smith has over 25 years' experience in the commodities markets as a fund manager, senior trader and founder/co-founder of two CTA funds, as well as the Enhanced Commodity Index (ECI) Fund for Asian and European investors.
SHK Fund Management Ltd (SHKFM) manages the SHK Quant Asia Fund, a quantitative and market neutral pan-Asia equity long/short fund, with a scalable system-driven investment process. SHKFM is a subsidiary of Hong Kong Stock Exchange-listed Sun Hung Kai & Co Limited, a leading financial services and investment holding company in the Greater China region.
Orbix Global Partners are pioneers in emerging markets trend-following. Eurekahedge caught up with Luciano Correa to talk about their recentky-launched offshore Emerging Trends fund.
Jayhawk China Fund (Cayman) Ltd is a long-biased hedge fund focusing on investments in Chinese companies. The Jayhawk China Fund is also offered by JP Morgan to clients of the firm's private bank. The fund invests primarily in equities listed mostly in Hong Kong, mainland China and the United States (although the stocks can trade on any exchange). The fund may also invest in certain late stage private equity transactions. The fund's inception date is July 1997 but began its current long/short format in 1999. The fund entered August with approximately US$248 million in assets. From January 1999 through July 2005 the fund has compounded at an annualised rate of 25.8% net of fees and expenses.
RGM Capital is based in Naples, Florida, in the United States. The firm was founded by Robert G. Moses who is also the Portfolio Manager and General Partner. The company manages two US equity funds - the RGM Value Opportunity Fund LP (US$4 million) and the RGM Value Opportunity Fund II LP (US$34 million) - with total assets under management of US$38 million. Both of these funds are absolute-return oriented and aim to exploit valuation extremes in the marketplace.
Established in late 2002, KGR Capital provides specialist management and advice on investments in Asian hedge funds. Its flagship fund, KGR Capital Asia Pacific Absolute Return Fund, is a diversified multi-strategy, multi-manager portfolio of Asian hedge funds.
Sector Asset Management (SAM) is a leading edge, independent, specialist capital management firm, managing both absolute return and long only mandates. Eurekahedge speaks to its Investment Manager Hakon Halvorsen, in this 2005 interview. With a current AUM in excess of US$1.2 billion, SAM started to diversify its product offering outside the energy and transportation areas in 2004. Hakon Halvorsen joined SAM to form a new investment team who will manage an equity market neutral fund based on Hakon's proprietary investment models.
AGS Select Long Short Fund is a long/short Australian equities fund, with a long bias. The investment manager of this fund is Sydney-based Tricom Investment Management Limited (TIML). The investment manager draws on the experience of Albert Landman, in managing the AGS fund's assets. Albert Landman has over 11 years' experience in financial markets, previously working as derivatives dealer for Macquarie Bank, Equities Advisor and Chief Equities Strategist for Tricom Equities Limited.
New York-based StoneWater Capital is founded and run by a group of partners with significant public and private equity investment experience. Founded in 2004, StoneWater Capital is a specialised asset management firm and manages over US$150 million in a global family of long bias fund-of-hedge fund vehicles as well as custom vehicles and other investments.
Precise Asia Pacific Fund is managed by Singapore-based Precise Asset Management. The fund adopts a long/short equities strategy driven by a quant investment model and aims to achieve consistent capital appreciation in both positive and negative markets through investing in the most liquid listed securities in Asia, including Japan, Korea, Taiwan, Hong Kong and Australia. The Precise Asia Pacific Fund will be launched in July this year.
Toronto-based BluMont Capital is one of the fastest-growing alternative investment firms in Canada and is home to Veronika Hirsch, one of Canada's leading hedge fund managers.
In Canada, BluMont offers a wide range of funds, from single manager/open-ended products to multi-strategy/multi-manager structured products with principal guarantees. For international investors, BluMont has just launched an offshore version of its successful long/short fund. The fund duplicates a strategy that has been in existence since January 2001 and as of 28 February 2005 had an annualised return of 18.7% and an annualised volatility of 9.9%.
Singapore-based Quant Asset Management was co-founded by Frank Holle and Chatchai Ngampakdeepanich.
QAM manages the QAM Global Equities Fund and the QAM Asian Equities Fund. Both funds were launched in April 2004. The QAM Asian Equities Fund has returned 34% since inception with an annualised return of 37% and annualised volatility of 23%. The QAM Global Equities Fund has returned 29% since inception with an annualised return of 32% and annualised volatility of 16%.
Steve Weiler manages from Corvallis, Oregon in the United States the Falcon Pacific Japan funds, which are comprised of two Japan equity long/short funds. Steve has over 17 years of experience living and working in Japan including, most recently head of equity research from March 1998 to May 2002 at Penta Investment Advisers. Steve is assisted in Tokyo by Nicholas Smith (a former Penta senior analyst) and three other personnel based in Oregon including Jack Bird (the former CFO of Penta) and Dana Lawton (a former sales trader from JP Morgan).
Hachiman Japan Fund is a Japan long/short equity fund that is run by Toru Ueda and Yashwant Bajaj in Tokyo. Toru, CIO, has 16 years' buy-side experience overseeing US$2 billion at Mercury (as head of institutional funds and research) from 1987 to 1997 and US$5 billion at PPM Japan from 1998 to 2001. Yashwant, CFO, has 19 years' Japanese equities sell-side experience and also has experience in equities, CB, listed and unlisted derivatives, having worked with Nikko Securities, Kleinwort Benson, Dresdner Kleinwort Benson and Lehman Brothers.
Established in 2004, Pangolin Investment Management is a specialised fund management company dedicated to investing in Asia with a long-term, value approach. In the following interview, James Hay, Principal of Pangolin Investment Management, shares the fund strategy, portfolio diversification and its focus on the ringgit and Malaysia investment opportunities. James has 18 years' experience in Asian markets, as a broker with BZW and Kim Eng in London and with Arab-Malaysian, TA and Caspian in Malaysia. He has lived in Asia since 1993.
Emory Partners is an option arbitrage hedge fund based in United States, whose average return over the last ten years has been 30% per year. Its Director, Thomas A. Wright is also a recognised expert in the field of governmental tax reform and has appeared widely on radio and television. In this 2005 hedge fund interview with Eurekahedge, Thomas A. Wright shares the strengths of Emory Partners, its portfolio diversification, the strategies they focus on and his opinions on the FairTax.
Philip Mathews has over 18 years' experience as a fund manager, research analyst and stock broker both in London and Sydney. Philip has a proven track record of over 12 years as chief investment director of two private unlisted funds, which have ranked in the top 1% of hedge fund performance globally. Both funds have multiplied their unit values in excess of 60 times over this period.
The Conquest Managed Futures Select (MFS), along with other domestic and offshore funds, is managed by Conquest Capital LLC, a Commodity Trading Advisor (CTA) specialising in the trading of futures and FX markets globally. Conquest Capital LLC is a wholly owned subsidiary of the Conquest Capital Group, which also manages a multi-manager portfolio through another subsidiary – Condor Capital LLC. The management firm handles an asset base of about US$382 million, and has ten employees including five investment professionals.
Octagon Capital adopts a quantitative approach to investing and is run by Lam Poh Min and Nelson Chia in Singapore. Poh Min has ten years of portfolio management experience. Prior to setting up Octagon, he spent nine years with Singapore's Government Investment Corporation (GIC). He was a senior portfolio manager in the quantitative investment unit. Nelson was a trader at GIC for nine years, working in Singapore, London and New York.
Constellation Asset Management manages the Constellation Fund, an equity long/short fund that invests primarily in Latin America. The fund trades the following strategies: relative value, pair trading, merger arbitrage, capital structure arbitrage and convertible bond arbitrage. The fund does not invest heavily in the fixed income markets. The founding partners and co-portfolio managers, Florian Bartunek and Eduardo Munemori, are based in Sao Paulo, Brazil.
Harvest Investment Partners manages the Harvest Asia Fund, an Asia ex-Japan, long / short equities fund. Singapore-based Harvest Investment Partners was established in July 2003 by Tiong Jin Yan, Michelle Tan-Chian and Michael Liang. The fund has generated returns of 2.33% year-to-date and 5.51% since inception (November 2003).
The fund is advised by Blackhorse Research Pte Ltd, which was established in Singapore in 2001 by John Engle. Together with partners Jonathan Ross and Paul Rubens, the team has a combined 35 years' experience in the Asian financial markets. Engle is a CFA with 14 years of investment experience, much of this with ABN AMRO HG Asia. He was most recently group head of research for Asia Pacific and Latin America at Indosuez W.I. Carr. Ross, also a CFA, has 11 years' experience in research in Asia and was previously head of technology research in Asia for Goldman Sachs. Rubens has 15 years' experience working for leading investment management organisations in Hong Kong, Taipei and Tokyo. He was most recently managing director, Asia for Banc One Investment Advisors.
With the increase in the amount of hedge funds under management as well as the high demand for investors in this type of investment, a new company is launching itself into constructing and selling an IT platform designed to construct traditional portfolios and funds of hedge funds: HFOptimizer platform.
Once an afterthought, the life science/pharma industry now glimmers as a large blip on the hedge fund radar despite shortfall in flu vaccines and Merck headlines partly because aggressive marketing and pricing have made pharmaceutical companies America's most profitable industry. In this interview, Richard shares with Eurekahedge about the life science/pharma industry in his capacity as the co-founder of Life Science Group Partners while connecting the dots between India, technology and the life science industry.
Dynasty Asset Management Ltd was established by Steve Dai and Edward Mullen in 2000. The firm is one of the earliest alternative investment managers to set up operations in Shanghai. It manages two funds - the Dynasty Fund and the Dynasty China Opportunities Fund. The former has generated average annual returns of 38.5% since inception (February 2001) and -4.72% year-to-date, while the latter was launched this year and has generated returns of -2.72% since January.
Arcus Investment was established in the mid 1998 by three partners who own the company, Peter Tasker, Robert Macrae and Mark Pearson. Arcus runs two other hedge funds, Arcus Japan Long/Short Fund and Arcus Zensen Fund.
The Jaguar Australian Leaders Long Short Fund Limited was established in 2003 by Glenn Rosewall and Robert Hunter. Jaguar Australian Leaders Long Short Fund Limited is its flagship fund. The fund is a long/short equity fund investing exclusively in Australia. It was launched in March 2003 and was +17.3% in 2003 and is +3.7% in 2004.
Dr Hardeep shares with us the services the Fyshe Group and Crestar Islamic Asset Management provide, particularly in addressing the islamic investment needs of the Muslim community.
CLC Managament manages the Global Partners LP, a long/short equity fund focused on exchange-traded closed-end funds trading at historical high or low variations from its NAV. The Chicago-based firm is co-founded by Anthony Cutinelli and Andres Lucas.
Founded in 2002 by Kaveh Jahromi, Alteris Investment Managers specialises in hedge funds. The Sydney-based firm manages the Australian Absolute Return Fund and will soon launch the Asia Pacific Absolute Combined Fund. Alteris tells us more about the latter in this interview.
Ramon Koss has an extensive background in trading, traditional and alternative investment management, asset and liability management, and product engineering. Before founding and taking charge of the Alternative Investment unit, Koss headed Credit Suisse Private Banking's Global Treasury and Trading, and Asset and Liability Management.
With the proliferation of hedge funds in recent times, how do managers identify potential investment opportunities and keep a competitive edge? The Abernathy Group has developed a unique Collaborative Investing® model which gives them better insight of their target sectors. Eurekahedge caught up with Neil Baim, Managing Director, and asked some questions.
Justin Kendrick is one of the three Principals and the Head of Business Development at Binjai Hill Asset Management (BHAM), based in Singapore. BHAM will advise the BINJAI HILL ASIAN ACORNS FUND, an Asian ex-Japan long/short equities fund with a long bias and focused on smaller-to-mid cap stocks. The BINJAI HILL ASIAN ACORNS FUND is scheduled to launch on August 10th and is aiming for moderate volatility and an absolute return of 20-25% per annum.
Griffin tells more about the award-winning Griffin Eastern Europe Value Fund and the people behind the running of the fund.
Platinum Capital Management Limited is a London-based team of investment and asset management professionals and has affiliate offices in UK, Switzerland, Hong Kong and Dubai.
Due diligence is a reality check with an in-built veto, and commences after the manager selection process but before the portfolio construction.
It is not part of the manager selection process, although it may be part of a manager elimination decision.
It is most effective prior to investment and the work is usually heavily front-loaded, but a certain element is ongoing. Much of due diligence is qualitative, operational, and mechanical - it is only peripherally an investment function.
Kenneth Hung is the fund manager for the Trophy Fund, a long/short equities pan-Asian hedge fund. The fund returned almost 300% in 2003 and has posted an annualised return of 57% since inception in September 2001. They currently have US$8 million in the Trophy Fund and US$10 million in a separate managed account.
Robert Drake has been involved with the Asymmetric Convertible Fund since its inception in May 2002. The other members of the investment team are David Moore and Mark Gretton.
Rose Choy, who is currently managing the PCIIM Emerging Markets Bond Fund, has five years of experience in the fixed income field. Prior to PCIIM, Choy's past experience was in the high yield and distressed debt fields at Citigroup in New York and with Carl Marks, a distressed debt fund based in New York.
Mike Clancy is the co-founder of Elgin Capital LLP. He has 15 years’ credit and derivative experience in New York and London, and was most recently global co-head of credit trading at Merril Lynch.
The FUJIMAKI JAPAN Macro fund is a Japan focused macro strategy fund. FUJIMAKI JAPAN Co., Ltd. is the investment advisor to the fund.
The Plaza Japanese Equity Long Short Fund is a long/short equities fund that uses a quantitative alpha model to capture opportunities across a broad universe in the Japanese equity market. Eurekahedge interviews its fund manager, Kazuyuki Murai.
Lynx Arbitrage is an Asia Pacific, relative value volatility arbitrage fund with a stated focus of delivering optimal, consistent "risk-adjusted" investment returns uncorrelated to general market movements and trends by exploiting pricing anomalies between Asian Pacific stocks and related exchange traded derivative contracts.
The Alternatrend Fund is a long/short fund of hedge funds which invests in superior managers worldwide. The fund aims to outperform the MSCI World Index signifiantly over the long-term with lower volatility. Charles E. Abrecht, its founding partner shares with Eurekahedge the spectacular performances recorded by the fund.
Mulvaney Capital Management is a London-based commodity trading advisor, regulated by the FSA in the UK and the CFTC in the US. The program is a long horizon systematic trend-capturing program allocating capital in all major sectors of the financial and commodity markets, explained by its Principal Paul Mulvaney, in an interview given to Eurekahedge.
Orion Capital Management are an investment advisory company and fund of funds manager. Eurekahedge talks to Peter Rup, the Fund Manager for the Orion Constellation Partners LLC Fund.
Doug Barnett, President, has 14 years' of experience in the investment banking and fund management business, specialising in the Thai stock market. The Thai Focused Equity Fund is a long/short Asian equities fund, with a strong long bias and a bottom-up value approach.
Interview with Jerry Wang, Fund Manager of the Vision Asia Maximus Fund
Interview with James Parker, Senior Portfolio Manager, ABN AMRO
Interview with Michael Brookes, Fund Manager of the St Helens Ailsa Long Short Fund
The asset management company of Select Opportunity Fund and Dana Izdihar fund is Malaysia-based Hwang-DBS Unit Trust Bhd. DBS Asset Management is the advisory company to Hwang-DBS. Teng has 12 years' experience managing absolute return mandates and David has been managing institutional funds for seven years.
KBC Alpha Asset Management is the Fund of Funds division of KBC Alternative Investment Management. The two key principals, Neale Safaty and David Walter have 20 and 17 years expertise in Japan & Asian equity and equity-linked capital markets that includes broking, risk-management, trading and direct experience in setting up and running Asian hedge funds.
HT Capital was established in 1997 and is owned by Ophelia Tong and Karl Hurst. Tong is the fund manager and has been running it since January 1999. The HT Asian Catalyst Fund is the only fund that HT Capital runs.
HT Asian Catalyst Fund is an Asia excluding Japan, long/short equity hedge fund. Stock selection is described as based on fundamental valuation grounds with technicals being used for market timing. Company visits are extensive and important. The Fund currently has USD34.7 million in assets and is +0.42% ytd as of May 01 2003.
Peter O'Neil Donnellon - Managing Director, Research and Investment, and Member of the ISA Board of Directors
Nick Delf is managing director of Singapore-based Maestro Capital Management, which is advisor to the Global Maestro Fund 1 Ltd, a Caymans based Macro fund. The fund will trade in a highly diversified set of markets across all asset classes and targets returns of around 20% and an annualised standard deviation of 10%. The fund is in the final stages of initial asset gathering and expects to launch in May.
Albert Saporta is AIM&R's founding partner and has 17 years' experience in global financial markets. The Firm has a team of 5 professionals with offices in Geneva and San Francisco. Before starting AIM&R, Mr. Saporta worked for IFM, UBS Securities, Merrill Lynch and Paribas. He currently runs two hedge funds, the SOG Fund (global multi-strategy arbitrage) and SOGAsia. The SOGAsia fund is an Asia including Japan, multi-strategy arbitrage fund. It employs structure arbitrage, closed-end fund arbitrage, pair trading, merger arbitrage and event driven strategies. The SOGAsia Fund was launched in July 2002 and was +1.4% for 2002. Mr. Saporta is based in Geneva.
Graeme Sinclair is Head of Japanese Equities at Aberdeen Asset Management Asia Ltd. and runs the Aberdeen Japan Absolute Return Fund, a Japan only equity long/short hedge fund which launched in October 2002. Aberdeen Asia runs approximately US $5 billion in long only assets. It is based in Singapore. Mr. Sinclair wrote the following article on the Japanese markets and the Aberdeen Japan Absolute Return Fund.
Ho Tian Yee is the CIO and oversees all investment management decisions at Pacific Asset Management. He is assisted in this by a four person investment team. Pacific Asset Management Ltd was founded in Singapore in 1995 by Ho, the major shareholder. Ho and his partners own 89% of the equity, with the balance held by Pacific Investment Management Company of the US. Prior to establishing the company, Ho worked for Bankers Trust in Singapore where he was employed for 19 years.
The Jade Japan Fund was launched in June 2000 and is managed by Dominic McEwan, who joined Jade in May 2001. He has over 15 years' experience in the Japanese markets, most recently as a director of Bonfield Asset Management, where he was one of the inaugurators of its Japanese funds. Prior to Bonfield, Mr. McEwan was head of Japanese equities at Commerzbank and a senior vice president at Jefferies International.
Reflections on 2002 and Prospects for the Coming Year
Wong Kok Hoi is the Managing Director and Chief Investment Officer of APS Asset Management based in Singapore. He has been the lead manager of the APS Asia Pacific Hedge Fund since its launch in April 2002. Prior to establishing APS, Mr. Wong was employed by Citibank and the GIC in Singapore. He has 20 years of investment experience. The APS Asia Pacific Hedge Fund is an Asia including Japan, equity long/short fund. It was up 20.26% for the year 2002.
The State of Hedge Fund and Fund of Funds Industries
Investor Select Advisors www.investorselectadvisors.com is a fund of hedge funds advisor, managing assets in 9 multi-manager portfolios primarily on behalf of institutional investors and distributors. It has in excess of US$340 million in assets under management, allocated to 57 hedge funds globally and over a dozen in the Asian time zone. Its 15 staff members include a research team of 6; 3 are located in Asia.
Woon Lim manages the Bali Pacific Fund (Cayman) from New York with Thomas Murtha. Woon Lim, an ex-broker, spent 11 years with Robert Fleming and four with HSBC Securities on their Asian sales desks in New York. The fund was launched at the start of January 2002. The Bali Pacific Fund was 0.5% for August 2002 and is 1.0% YTD at the end of August.
David Lee runs the Ferrell Asia fund, managed by Ferrell Asset Management Pte Ltd, which was established in Singapore in 1999. David Lee is the MD and CIO. He has more than 15 years' investment experience, having previously headed Fraser Asset Management. The company has US$25m under management, all of which is managed on an absolute return basis. The Ferrell Asia Fund has US$5m of assets. The Ferrell Asia fund was 0.1% for August 2002 and is 3.4% YTD at the end of August.
David Webb founded Wellam Investment Ltd. in March 2000, the firm is based in Hong Kong. Prior to establishing Wellam, Webb was MD and head of Asian equities at Chase Asset Management in Hong Kong since 1992. David currently runs the Hidaro Fund, a Japan equity long/short fund employing both a relative value and directional strategies. David is supported by Hitomi Sugino who previously worked with David at Chase and has been in the Japanese securities market since 1982. The Hidaro Fund was launched in February 2001, prior to which David and Hitomi were running a segregated account with the same strategy. The Hidaro Fund was -1.64% for July 2002 and is +2.70% YTD at the end of July.
Zaheer runs the LG Asian Plus Fund and has been with LGM since 1995. He has been involved in managing the fund since inception and has taken over full responsibility since June 2000. He is a graduate of Case Western Reserve University and has a MBA from Indiana University.