China's E Fund Readies Two Emerging Markets Launches In Hong Kong

Apr 15 2011 | 1:23pm ET

E Fund Management, the firm that last year launched China's first officially-registered hedge fund, will launch the first of two planned emerging markets hedge funds this month.

The Global Emerging Markets "China Enhanced" fund will actually be launched by E Fund's Hong Kong unit, and not in mainland China. The long-only fund will target annual returns of 4% to 6% in excess of its benchmark when it debuts towards the end of the month.

E Fund will follow that launch with the debut of the Global Emerging Markets Opportunistic Long-Short Fund in the second half, targeting 15% annual returns. Combined, E Fund hopes to raise US$500 million for the two funds.

"Global emerging markets is a very attractive asset class and many global investors realize they underallocate to emerging markets," E Fund's Hong Kong CEO, Charles Wang, told Reuters.

The US$500 million should just be a start for the two funds: The long-only fund has a capacity of US$5 billion, while the long/short fund could manage up to US$1.5 billion. E Fund is marketing the two products to institutional investors, family offices and high-net-worth individuals.


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