Dalton Preps Large-Cap, Multi-strat Pan-Asia Hedge Fund

Apr 24 2007 | 10:44am ET

Los Angeles-based Dalton Investments is currently readying a Pan-Asian strategy that will be available in the second half of the year, according to sources with knowledge of the situation. The new multi-strategy offering will invest in large-cap names across Asia and utilize the firm’s existing Asian infrastructure; it currently has 12 personnel in Japan and eight in China supporting its activist vehicles, the Dalton Greater China Fund and JMBO Fund.

“What they’re looking to do is be opportunistic in allocating between China and Japan and other parts of Asia, which has a history of booms and busts,” said one source. “It’s extremely helpful to be able to allocate capital within a regional strategy. Additionally, Dalton’s existing investments in Japan and greater China have more of a specific focus – both will invest in small-to-large cap names so liquidity is not great in either region. But now they can focus on larger-cap names with the Pan-Asia strategy and provide better liquidity.”

Sources also said that the new strategy is looking for opportunities in other regions such as Thailand and Korea. “In 1998, much of their portfolio was centered around Southeast Asia and not Japan nor greater China. This strategy is well suited for larger investors who need scalability and for smaller investors who cannot be so granular in their Asian outlook,” said the source.

Jamie Rosenwald, Dalton’s co-founder, is the portfolio manager for the new strategy.  

Year-to-date through March, the Dalton Greater China Fund is up 9.61% with $147 million in assets under management, according to public databases. The firm’s JMBO Fund has returned 3.31% with some $97 million in assets under management.

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