Saturday, 23 August 2014
Last updated 20 hours ago
Jan 12 2011 | 1:39pm ET
Former SAC Capital Advisors fund manager Ping Jiang has launched a second hedge fund after his maiden fund secured its second-straight year of triple-digit returns.
Ping Capital Management’s Emerging Markets Macro Fund debuted on Jan. 1, Dealbreaker.com reports. A source told the blog that the new fund “targets a lower [volatility] and focuses on short-term trading.”
The new fund has a $500,000 minimum investment and a one-year lockup, and charges 2% for management and 20% for performance.
Investors rushing to invest in the new fund are betting that Jiang’s ability to repeat his performance with the firm’s Exceptional Value Fund. The $155 million vehicle returned 105% last year and 193% in 2009.
Jiang is still perhaps best-known for some lurid accusations made against him by a former employee at SAC. Andrew Tong sued Jiang and SAC, alleging that Jiang made “violent sexual advances” towards him and forced him to cross-dress and take estrogen pills. Both Jiang and SAC vehemently denied the allegations, which were dismissed by an arbitration panel.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note