Singapore Quant Wants To Redouble Assets

Jan 14 2011 | 1:19pm ET

Singapore-based Quantedge Capital already knows what it wants for Christmas: to be managing twice as much at the end of the year as at the beginning for the second year in a row.

The quantitative firm plans to more than double the size of its global macro hedge fund by the end of the year to US$200 million, Bloomberg News reports. And it has some pretty impressive marketing materials: The Quantedge Global Fund returned a whopping 80% last year, its best year since launching in 2006.

The fund currently manages about US$75 million, and should break that US$100 million mark by the end of the first quarter.

Quantedge co-founder Leow Kah Shin told Bloomberg that the firm is looking for investors who "understand the need to accept short-term volatility in exchange for strong long-term capital growth."

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