Wednesday, 7 October 2015
Last updated 17 hours ago
Apr 20 2011 | 1:59pm ET
Ping Capital Management’s second hedge fund has weathered its first few months better than its predecessor.And given that predecessor’s ensuing track record, investors in Ping’s Emerging Markets Macro Fund can only be smiling.
The fund, which launched on Jan. 1, returned 4.8% in its first three months after posting a 2.17% surge in March, Dealbreaker.com reports. Emerging Markets Macro suffered none of the growing pains that afflicted New York-based Ping’s flagship, which lost 34.26% over its first seven months in 2008—a difficult time for hedge funds, to be sure—before returning 193% in 2009 and 105% in 2010.
Ping Capital founder Ping Jiang is still perhaps best-known for some lurid accusations made against him by a former employee at SAC Capital Advisors, where he was a top trader. 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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…