Now Singapore-Based, Prana Aims To Double Assets

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.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.