Wednesday, 25 November 2015
Last updated 10 hours ago
Oct 13 2010 | 11:45am ET
Hong Kong-based Wykeham Capital is opening its long-biased small- and micro-cap hedge fund strategy to outside investors.
The Asia Value Fund will open at the end of this month. The fund currently manages US$2 million for friends and family of Wykeham CEO Howel Thomas, and has returned 45% over the past 12 months, according to Asian Investor.
Wykeham runs a concentrated deep-value strategy, with between 15 and 20 names currently in its portfolio. The fund is especially heavy on electronics and consumer manufacturing.
"Right now, I'd tend to be staying away from banks, financial institutions, real estate, and any heavily leveraged business," Thomas told Asian Investor. "Corporate governance is an important factor. I avoid any company with questionable corporate governance."
Thomas spent nearly a decade at CLSA and five years in real-estate development before setting up Wykeham last year. At CLSA, he was head of options and futures before leaving in 2005.
Wykeham charges 1% for management and 25% for performance with a 6% returns hurdle and high watermark. There is no lock-up and the fund features quarterly liquidity with three months' notice. Swiss Financial is the fund's administrator and Deutsche Bank its cash custodian.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…