Monday, 20 October 2014
Last updated 28 min ago
Feb 11 2010 | 11:13am ET
Gandhara Capital founder Davide Erro is set to launch a new hedge fund in April with $100 million in seed capital.
With ambitions to become the first global hedge fund with operations exclusively in Asia, Turiya Advisors Asia will launch its first fund of April 1, Bloomberg News reports. Targeting returns of between 15% and 20%, the fund will invest in between 20 and 25 positions, equally divided among Japan, the rest of Asia and Europe.
Erro founded Gandhara in Hong Kong—where Turiya is also based—in 2005 after leaving Deutsche Bank. He shuttered the $2.3 billion fund last year after it lost 19% in 2008, leading investors accounting for nearly a third of its assets to seek redemptions.
The new fund has been seeded by Turiya’s six-member investment team, other employees, family and friends.
Turiya—which means “pure consciousness” in Hindu philosophy—will be net long. Four-fifths of its portfolio will be bets on broad investment themes, with the rest placed in contrarian bets.
The new fund charges 1.75% for management and 20% for performance. It offers quarterly liquidity with 45-days notice; investors can withdraw one-third of their money at any one time.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...