Credit Suisse Asia Forex Chief Readies Hedge Fund

Jul 10 2012 | 1:41pm ET

Add another prominent hedge fund launch to Asia's hopper.

Credit Suisse's former foreign exchange chief for the region in readying a currency hedge fund for launch by October. David Curtis has founded Northbridge Park Asset Management in Sydney, Australia.

The new fund, which expects to debut with between US$50 million and US$100 million, will trade Group of 10 and Asian currencies. It will invest primarily in the spot forex market, with up to 10% invested in derivatives.

The Northbridge Park Macro FX Fund will target annualized returns of between 12% and 15%, with volatility of between 7% and 10%. The strategy, which has been trading with seed capital from Deutsche Bank for more than a year, is up 5.4% on the year.

Northbridge Park hopes to raise US$750 million to meet its initial capacity. "We have had strong interest in managed accounts from a couple of Hong Kong- and Tokyo-based investors that we are seeing later in the week," Robert Duke, the new firm's head of business development, told Reuters.

In addition to Curtis and Duke, Northbridge Park features Chris De La Hoyde, former Asia-Pacific foreign exchange chief at the Royal Bank of Scotland, and David Bavin, former forex and equity derivatives head at Macquarie Bank. Duke told Reuters that the team had been planning the hedge fund for several years.


In Depth

Hedge Funds Take Interest In ‘Soft Deposits’

Nov 19 2014 | 11:56am ET

New York-based Winchester Equities, headed by Avi Benamu and Jack Hazan, funds soft...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.