SINGAPORE (HEDGECO.NET) – Singapore’s state investment agency Temasek Holdings has announced it is entering the hedge fund investment management arena. According to released statements, the firm willorganize a hedge fund partnership to manage investment assets for institutional clients in Asia.
The new fund will be run by Gerald Lee, managing director of the firm, along with additional in-house managers. The new fund, called Fullerton Short Term Interest Rate Fund, is part of the company�s strategy to organize an Asia hedge fund management subsidiary according to Eva Ho, spokeswoman for the Temasek group.
Ho said, “The fund was started because we were approached by various parties to put together a commingled fund to act as a proxy for Singapore-dollar deposits�. According to her, the new hedge fund will also manage some company assets as well.
The new hedge fund will be investing in �Singapore-dollar denominated fixed income securities of up to 5 years and other money market instruments.� It will also invest in foreign currency bonds that have a minimum credit rating of BBB-minus/Baa3.
The fund has a low cost feature with expense ratio of about 0.16% to 0.25%, utilizing low volatility returns, which will enable the fund to take advantage of the changes in the yield curves. Ho also said registration documents have been filed with the Monetary Authority of Singapore.
Paul Oranika
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HedgeCo.Net
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