Former Deutsche Prop. Trader’s First Fund Up 20% In First Year

Jan 11 2011 | 12:56pm ET

Last year proved to be a good time for Deutsche Bank’s former top proprietary trader in Asia to strike it out on his own. Wang Bing’s Nine Masts Capital debuted in May; since then, it has grown fourfold and enjoyed its first double-digit year.

The Hong Kong-based firm’s eponymous hedge fund rose about 20% last year, Bloomberg News reports. The capital structure arbitrage vehicle profited from a spurt in new issuance by Asian companies as well as the dearth of competition in the space.

Nine Masts now manages more than US$120 million. It launched with just US$30 million in capital from its partners and friends and family.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Maglan Capital: Some Lessons Learned From Puerto Rico

Jul 13 2017 | 8:00pm ET

Although Maglan Capital has not been invested in Puerto Rico for more than three...

 

From the current issue of