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Assan Din, a former Lehman Brothers Holdings Inc. credit trader, is setting up a hedge fund to trade corporate bonds and derivatives in Asia.
SaKa Capital’s fund, which will have a capacity of more than $500 million, will start in September with $25 million to $50 million sourced mainly from founding members and friends, Din, 38, said. The Singapore-based firm will subsequently raise capital from institutional investors, including U.S. pension funds and endowments, once it builds a track record, he added.
Times Online – Hedge funds are on course to deliver their best first-half performance in a decade, as investors renew their faith in the sector in the wake of last year’s calamitous losses.
Hedge funds worldwide returned 5.63 per cent to their investors in the year to last Thursday, according to Hedge Fund Research (HFR), the Chicago-based research firm that compiles daily statistics on performance.
Strategies that predict big directional market moves made profits of 12.52 per cent over the period as equity markets in Europe, the US and Asia-Pacific posted strong gains and liquidity gradually returned to the credit markets.
News.com.au – An independent monitor of local hedge funds has rubbished claims domestic financial stocks would be targerted if the ban on short selling was lifted.
Australian Fund Monitors’ chief executive Chris Gosselin hosed down concerns expressed by the Australian Securities and Investments Commission (ASIC) to extend the short selling ban on financial stocks for a third time until May 31.
The risk of damage from aggressive or predatory practices from short selling justified any loss of market efficiency or price discovery caused by extending the ban, ASIC said last Thursday.
