Monday, 25 May 2015
Last updated 2 days ago
May 27 2010 | 1:35pm ET
Newly-relocated Prana Capital has big plans in its new home.
The hedge fund last month moved its investment team—including founder Peregrine Cust—from London to Singapore. And it’s bullish on the future, both of the Asian markets and of its own fund.
Prana hopes to double the size of its eponymous flagship this year, from US$125 million to US$250 million, Bloomberg News reports. Cust said the firm will focus its marketing efforts on institutional investors in its new home region.
“We’re going to see a fall of western currencies—perhaps not the same magnitude that we saw in regards to the fall of Asian currencies during the ’98 crisis—but we’re going to see something similar,” he told Bloomberg.
Cust, research director Jason Roberts and analyst Srina Patel have already relocated to the city-state. Trader Mihail Nedev is set to follow in August, while marketer James Wheeler will remain in the U.K.
“We like to get our hands pretty dirty and meet with the companies and do that extra bit of due diligence, not just rely on that information flow from the broker community in London,” Cust explained.
The Prana Fund is up 4.6% through the first four months of this year.
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…