Sunday, 29 November 2015
Last updated 1 day ago
Apr 12 2007 | 11:47am ET
Shanghai- and Taiwan-based hedge fund manager UG Investment Advisers is looking across the Taiwan Strait for its next offering.
Enticed by opportunities in mainland China, especially those in closed-end funds, UG hopes to raise as much as US$500 million for a Greater China multi-strategy fund, focusing on closed-end fund arbitrage. Partner Richard Fan said that the fund will launch in the next three months if the firm is able to raise at least US$200 million for it.
“It’s in the very preliminary stages right now,” he said at a Reuters-sponsored hedge fund conference in Singapore.
The US$900 million firm’s current multi-strat offering, the UG Formosa Multi-Strategy Fund, is about 70% invested in Taiwan, Fan said, adding that the new fund would give it more flexibility to invest in mainland China.
UG already has more than half of its total assets invested there through China’s qualified foreign institutional investor program, but the new fund would target the more than 50 closed-end funds listed on China’s stock exchanges.
“The largest piece of the pie would be closed-end fund arbitrage,” Fan said. “This is one of our bread-and-butter businesses… We’ve been doing it in Taiwan since ’93.”
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…