Tuesday, 30 September 2014
Last updated 1 hour ago
May 1 2007 | 3:03pm ET
Paris and Chicago-based Addax Capital Management recently launched a China-focused fund of hedge funds dubbed the Zhong Guo Fund. The fund, which means middle kingdom in Chinese, launched on Jan. 1 with €5 million and is up 8.04% through March.
The Zhong Guo Fund currently invests in nine underlying managers mainly employing long/short strategies, and will increase its portfolio to 12 funds in the near term.
The fund’s underlying managers are Western-educated Chinese nationals based in either Hong Kong or Singapore with research offices in China, according to Addax chief executive Jean-Jacques Joule. The underlying managers each handle between $20 million and $700 million in assets.
“I think we have a good story and what I tell investors is that they cannot ignore China, and the best way to play in China is through a fund of funds because I do think it is dangerous to be benchmarked,” said Joule.
“The A-shares market is an opportunity market and you have to be able to enter and leave very quickly,” he said. “The B-shares market is very specific and you have to have good knowledge, but there are some interesting things to do there.”
The new offering, which is currently marketed to French institutional investors including pension funds and insurance companies, charges fees of 2% for management and 10% for performance.
The firm is also opening an office in Singapore to further source Asian managers and operations there should commence within the next few months.
Addax spun out of Credit Agricole in 2004 and currently manages €160 million in four other funds.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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