Monday, 20 October 2014
Last updated 4 hours ago
Jun 11 2007 | 2:56pm ET
Singapore-based Blackhorse Asset Management is launching a long/short Asian technology fund on July 1 with some $20 million in initial equity. Dubbed the Blackhorse Early-Stage Technology fund, the fund will invest in small-to-mid cap Asian tech companies, as well as illiquid pre-IPO candidates via a side pocket.
According to fund documents, the Asian tech industry has underperformed its non-tech counterparts for the past three years and Asian tech valuations are currently low in relative and absolute terms. The pre-IPO Asian market is becoming active as liquidity events such as listings, M&A and buy-out activity become more prevalent across the region and better liquidity and transparency in pre-IPO markets helps “to create a virtuous circle with respect to pre-IPO value realization.”
The fund has a gross limit exposure of 180% and the target net range is –20/+120%. Its target return is more than 25% per year, with volatility of 10% to 15%. It will hold 25 to 40 positions in its portfolio.
The fund comes in two share classes: A shares (no side pockets) and B shares (with side pockets). It charges fees of 1.74% for management and 20% for performance, with a minimum investment requirement of US$100,000. There is monthly liquidity with 30-days notice and there is a one-year lockup.
Blackhorse was founded in October 2001 and currently manages some US$500 million. The firm currently manages an Asia ex-Japan long/short fund, an Asian long-only fund and a Vietnam-focused long-only fund.
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 ...