Monday, 20 October 2014
Last updated 2 hours ago
Jun 29 2011 | 10:19am ET
Shanghai-based Citic Securities International Fund Management has launched a renminbi-denominated hedge fund focusing on foreign exchange and fixed income.
The CSI RMB Fund, which specializes in the so-called ‘dim-sum’ bond market (renminbi-traded bonds), launched in mid-June, reports Hedge Funds Review, and will invest initially in offshore renmimbi-related securities in Greater China.
CSI Fund Management seeded the fund with $5 million which has since become $6 million and the company expects AUM to reach $100 million within the next year. Craig Lindsay, managing director and COO of CSI Investment Management told the Review that AUM could eventually top $1 billion. Lindsay says the renmimbi is on course to appreciate by 5%-7% annually, but that there may be “bumps along the road” providing shorting opportunities.
The Caymans-domiciled fund will be managed opportunistically and have a long bias. Portfolio manager Li Lu joined Citic Securities in February from the financial markets department of the China Construction Bank where she was a portfolio manager.
Minimum investment in the fund is $1 million.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...