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Audio – “Angel” Vision to incubate Asian hedge funds
Vision Investment Management, an Asian fund of hedge funds, is setting up its “Vision Angel Fund” to seed and incubate hedge fund start-ups, which it hopes will give annual returns of around 24-30 percent. Julius Wang, a managing director at the Hong Kong-based firm, told the Reuters Hedge Funds and Private Equity Summit that new fund managers tended to be much better performers than veterans, partly because they were more ambitious and less conservative. Wang also spoke about plans by Vision to create a new fund of up to 100 million pounds to be traded on the London Stock Exchange.