Sunday, 24 May 2015
Last updated 1 day ago
Mar 18 2010 | 8:43am ET
Singapore-based hedge fund Flowering Tree Investment Management is well on its way to profitability after its stock fund outperformed other Asian equities funds over its first 10 months.
The fund debuted in May with US$12.5 million. It now manages more than US$70 million, according to Bloomberg News. The firm expects to break even on the fund when it grows to between US$100 million and US$150 million, firm founder Rajesh Sachdeva said.
Sachdeva said the fund—whose “optimal size” would be between US$300 million and US$1 billion—should return in the “mid-teens to early 20s in percentage terms this year.” The fund is up through February, although Sachdeva wouldn’t say by how much.
“2010 will be a year where markets will not be as directional as they were in 2009; it’s a much more stock-picker’s market,” he told Bloomberg. “We are excited about that environment; that’s when we expect to do well.”
Sachdeva is a co-founder of New York-based hedge fund Sansar Capital Management, which he left in 2008.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…