HONG KONG, March 3 (Reuters) – Nomura Holdings Inc
has hired former Barclays trader Pradeep Swamy to start a new
proprietary trading team in Hong Kong.
The move comes as Wall Street banks retreat from the
lucrative proprietary trading business after regulatory changes
put in place after 2008 curbed banks from making bets with their
HONG KONG, March 3 (Reuters) – News and developments in the
Asian funds industry in the last week.
Dagmar Baeuerle, a director of prime finance business
advisory services for Asia-Pacific at the prime brokerage unit
of Citigroup, has quit, sources familiar with the matter
said. Baeuerle, who was responsible for consultancy services to
hedge funds, had joined the bank in 2010 from U.S. money manager
Crown Advisors International. A Citigroup spokesman declined
comment. Baeuerle could not be reached for comment.
HONG KONG, Feb 26 (Reuters) – Seth Fischer, one of Asia’s
best-known hedge fund managers, has written to Nintendo Co Ltd
urging the Japanese console maker to develop and sell
games for mobile platforms run by Apple Inc and Google
Fischer, of Hong Kong-based Oasis Management Co Ltd, sent a
similar letter in June to Nintendo, in which Oasis owns shares.
His latest missive adds to investor pressure for the company to
move on from making games only for its propriety consoles.
HONG KONG, Feb 25 (Reuters) – Hedge funds launched in Asia
in 2013 raised a fifth less than a year before as more managers
launched funds with smaller sizes, according to a survey.
As funds found it tougher to attract investors in one of the
industry’s quietest years since the global financial crisis in
2008, new funds raised $3.85 billion, according to the
twice-a-year survey from AsiaHedge. That was down from a record
$4.74 billion in assets in 2012.
HONG KONG, Feb 24 (Reuters) – Singapore-based asset manager
Dymon Asia Capital has partnered former SAC Capital portfolio
manager Carl Vine to raise a $500 million global hedge fund to
invest in stocks, as investor interest in equity-focused funds
makes a strong comeback.
Stock rallies in countries such as the United States and
Japan last year attracted as much as $82 billion into long/short
equities hedge funds compared with an outflow of $5 billion in
2012, according to industry tracker Eurekahedge.
HONG KONG, Feb 10 (Reuters) – Two former top traders at
Goldman Sachs and Noble Group are planning to form a hedge fund
in Asia, a source with knowledge of the matter said, in another
high profile launch in the region.
The fund’s creation comes as global regulatory changes
restrict banks from trading with their own money, forcing
so-called proprietary desk traders to strike out on their own.
HONG KONG, Jan 30 (Reuters) – Segantii Capital Management,
one of Asia’s fastest growing hedge funds, has been hit by five
recent resignations, people with knowledge of the matter told
Reuters, after the firm saw its first annual loss.
Such an exodus is rare in the industry, and it marks a sharp
u-turn for a fund that grew to manage about $750 million from
just $25 million in 2007, making it one of the biggest capital
raising successes in the region.
HONG KONG, Jan 24 (Reuters) – Hedge fund industry veteran
Allan Bedwick has quit as head of macro trading in Asia for
Noble Group Ltd to start a new macro fund, sources
said, a move that comes as prospects brighten for strong capital
flows into the region.
Asian hedge funds have regained some lustre after returning
nearly 16 percent last year, their best annual performance since
2009, according to data from Eurekahedge, helped partly by a
stock market rally in Japan and bets on Chinese sectors such as
technology and gaming.
HONG KONG, Jan 20 (Reuters) – Mutual fund manager Franklin
Templeton has hired a former hedge fund manager to expand its
Asian line-up of products investing in lucrative alternative
assets, joining its peers in tapping a rapidly growing market.
Scott Collison, who in 2011 launched one of the biggest
hedge funds in Asia, has joined Franklin Templeton in Singapore
as its first head of alternative sales for Asia, home to some of
the world’s fastest growing economies and large institutional
HONG KONG, Jan 14 (Reuters) – Emerging markets fund manager
Mark Mobius is heading into 2014 with heavy investments in Thai,
commodities and energy stocks, the same bets that led to the
biggest miss for his $14 billion Asia fund in almost a decade
and a half.
Investors last year pulled out an estimated $500 million
from his Templeton Asian Growth Fund, the most recorded by fund
tracker Lipper since it started compiling flows data for Asia’s
biggest equity fund in 2003.