Morgan Stanley, Citi Bankers Ready Hedge Fund

Jun 14 2012 | 12:43pm ET

A pair of former bankers has joined forces to launch an Asia-focused hedge fund.

Yang Yeo and Janice Dunnett have set up Naga Capital in Hong Kong. The new fund will trade in credit, stocks and convertible bonds, the latter Dunnett’s specialty at Morgan Stanley.

The Naga Capital Master Fund is aiming for annual returns of 15%, Reuters reports, citing a marketing document. Yeo, a former portfolio manager at Citigroup, is currently raising money for the fund, which is expected to launch in the third quarter.

Yeo worked at Citi for more than four years, running Citigroup Global Markets’ Asian investments. He formerly worked at Goldman Sachs.

Dunnett, who serves as co-chief investment officer of Naga alongside Yeo as well as holding the title of the new firm’s CEO, headed convertible bonds for Asia at Morgan Stanley and convertible bond sales at Credit Suisse, with a spell at Standard Chartered Bank in between.

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