HONG KONG Feb 17 News and developments in Asian
funds industry in the last one week.
Danny Bao, the former head of Hong Kong and China property
research at Deutsche Bank and Daiwa, has set up his
own firm HJY Capital and plans to launch a hedge fund by the end
of March. His China Property Cycle and Urbanisation Fund has
commitments worth $20 million, Bao told Reuters, adding that he
will bet mainly on China's property sector stocks and credit.
Just before setting up his firm last year, Bao ran a family
office for Shanghai-based property developer CJ Land.
Manuel Schlabbers, a former trader at Morgan Stanley
and Credit Suisse, will launch a hedge fund on the
SinoPac Asset Management platform on March 1, SinoPac Solutions
CEO Steve Bernstein said. The Accudo Asian Value Arbitrage Fund
will focus on small and mid-cap companies. It's launching with
capital from SinoPac and others and is expected to raise $30
million by the end of 2014. The long-biased fund aims to beat
the MSCI AC Asia ex-Japan Index by at least 5 percent annually.
Geoffery Lee, a former co-head of macro trading for Asia
Pacific ex-Japan at Goldman Sachs, has joined
Singapore-based hedge fund Dymon Asia Capital, according to data
from Hong Kong market regulator Securities and Exchange
Commission. Dymon runs one of Asia's biggest macro hedge fund
with $2.6 billion in assets at the end of Dec 2013. The fund
returned 5.2 percent last year, according to fund data obtained
Investors yanked almost $4.5 billion out of emerging bond
and equity funds over the past week, with equity funds seeing
their 16th straight week of outflows, banks said on Friday,
citing data from EPFR Global.
The Japanese mutual funds market suffered an investment loss
of $29 billion in January, the first fall in five months, but it
posted solid net inflows with investments in equity funds
reaching their largest amounts since August 2007.
Alternative energy investment firm Equis Funds Group plans
to raise $500 million over the next year to fund solar energy
projects in Japan where the use of renewable energy is expected
to at least double over the next 15 years.
India's Piramal Enterprises Ltd PIRA.NS said it will join
with Canada Pension Plan Investment Board (CPPIB) to set up a
$500 million fund to finance residential property projects in
Kuala Lumpur-based Saturna Sdn Bhd, a subsidiary of
U.S.-based Saturna Capital Corp, has launched a sharia-compliant
wholesale equity fund targeting institutional investors through
an unusual low-fee structure.
One of the best stock pickers in America for the month of
January was a 56-year-old Taiwanese immigrant working out of a
small office in suburban New Jersey, 25 miles from Wall Street.
Former Goldman Sachs co-head of macro trading for
Asia Pacific ex-Japan, Leland Lim, is planning to launch a hedge
fund with Allan Bedwick, the former head of macro trading in
Asia for Noble Group, a source with knowledge of the
Since the beginning of the year, emerging markets have been
like cats on a hot tin roof. Hot money is skittering out of
foreign markets as countries from Argentina to Turkey have been
clawed by economic and political turmoil. But even with
heightened concerns about the prospects of developing countries,
emerging markets should still be a part of your larger