Sunday, 26 April 2015
Last updated 1 day ago
Oct 12 2012 | 12:50pm ET
GLG Partners has launched a new long/short Asian stock fund with US$150 million in seed capital from its parent.
Man has provided the initial money to GLG's new Asia team, led by David Mercurio. The Hong Kong-based fund is GLG's first Asia-focused fund and Man's first discretionary Asian equity fund. The market-neutral offering will seek to capitalize on inefficiencies in Asia's stock markets.
"These inefficiencies represent a great opportunity for us to build an Asia long/short strategy, because if you can understand what causes Asian share prices to move—the reasons behind the inflow and outflow from foreign investors and the fundamentals of these listed companies—and take advantage of that, you can make money," Man Investments's Asia chief, Tim Peach, told Asian Investor.
GLG plans to begin taking outside capital in March, after it builds a track record with the proprietary capital.
Peach told AI that Man's existing infrastructure in Asia would be sufficient for the new fund for the next five years, at least. Man has offices in Beijing, Hong Kong, Singapore and Sydney, Australia.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…