Wednesday, 20 August 2014
Last updated 44 min ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note