ETF News

SAC Capital grows in Asia with Singapore office

HONG KONG/NEW YORK, Dec 4 (Reuters) - S.A.C. Capital Advisors, L.P. one of the world’s biggest and most successful hedge fund firms, is expanding its Asian operations by opening a new office in Singapore amid strong industry investment returns across the region.

Two portfolio managers will be working in the Singapore office, according to a source close to the matter. In total, SAC employs 79 discretionary long/short equity portfolio teams, 10 of which concentrate on Asia/Emerging Markets.

The U.S. hedge fund, which declined to comment for this story, also has a small office in Hong Kong.

((Reporting by Parvathy Ullatil and Svea Herbst-Bayliss; Editing by Jonathan Hopfner))

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