Asia Macro Shop Dymon Doubles Assets As Returns Soar

Jul 7 2011 | 10:27am ET

The second quarter wasn't kind to many hedge funds. But Dymon Asia Capital more than doubled its assets under management during the period and now manages in excess of US$1 billion.

The firm's three-year-old flagship returned 13% in the first half, helping boost the Asia-focused macro fund's assets to US$900 million, Bloomberg News reports. And that has helped attract inflows, especially from U.S. investors and pension funds, CEO Danny Yong, formerly head of Citadel Investment Group's Asia macro trading unit, said.

"We will grow as we continue to show that we can scale," Yong said. "If we cannot demonstrate the ability to produce at the same run rate of between 15% and 20%, we will not take in more capital."

In addition to the Dymon Asia Macro Fund, which enjoyed its best month in March with an 8% return, despite the devastating Japanese earthquake, Dymon runs an Asia Currency Value Fund, which launched in May and is only available to investors in the flagship.

Dymon debuted three years ago as part of Abax Global Capital, seeded by Tudor Investment Corp. It spun-off from Abax a year later.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of