Charlie Chan Fund Up Splendid 60%

Oct 23 2012 | 1:37pm ET

Former Credit Suisse trader Charlie Chan is finding life as a hedge fund manager to be, well, splendid.

His eponymous firm's aptly-named Splendid Asia Macro Fund has continued its exceptional run during its first full year and is now up 60% on the year, Reuters reports. The US$80 million fund—half of the capital is Chan's—has profited on real-estate investment fund, bond and currency investments, using two-times leverage.

"We took risk when nobody else wanted to," Chan told Reuters. "REIT was a big major long, and then regional equities. We have not sold anything at a loss."

Splendid Asia was up 20% through May, meaning two-thirds of the returns have come in the last four-and-a-half months. The fund debuted last summer.

Chan said he expects things to quiet somewhat over the next few months, and that he's cut back on his bets accordingly. His top pick at the moment are government bonds, especially those issued by his native Singapore.

Chan also said that he expects to add about US$20 million in new assets by the end of the year, and that Splendid Asia could manage up to US$500 million, but that he's not actively managing the fund.

"Do I really want to have that higher profile?" he asked. "If people want to come in and invest, that's fine."


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of