Abax to Open Tudor-Backed Macro Hedge Fund to Outside Investors
Bloomberg – Abax Global Capital Ltd., a Hong Kong-based asset manager part-owned by Morgan Stanley, plans to open a hedge fund backed by Tudor Investment Corp. to outside investors for the first time.
The Abax Dymon Asia Macro Fund, which started with $113 million in August 2008, seeks to profit from regional economic trends. The fund will have a “clawback” arrangement under which half of the 20 percent performance fee earned is repaid to investors if the fund loses money in the next year.
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