Aussie Hedge Fund Soars In First Six Months

Jan 7 2010 | 3:06am ET

One new Australian hedge fund is anything but Down Under when it comes to returns.

Six-month old Kima Capital returned 14% in its first year. The Melbourne-based Asian long/short specialist is targeting annual returns of between 12% and 18%, Asian Investor reports, so it is safe to call its first half a success.

Kima is the brainchild of Marble Bar Asset Management veteran Justin Klintberg, who serves as Kima’s chief investment officer. The firm also boasts RMB Australia and Macquarie Bank veteran Michael Gallagher as CEO and Violet Fan, formerly of hedge fund Tantallon Capital, as administrator.

Though it aims to offer pan-Asian exposure, Kima skips some of south and southeast Asia’s more illiquid markets. The fund’s portfolio is divided into event-driven, arbitrage, and initial public offerings and blocks, and includes between 20 and 30 names at any given time.

Kima charges 1.5% for management and 20% for performance.


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