SAC Asia Pioneer Plans Own Macro Fund

Apr 15 2013 | 11:35am ET

SAC Capital Advisors' first Asia-based portfolio manager will launch a hedge fund of his own in the region.

Yip Ka-hay founded Bright Stream Capital Management in Hong Kong. The new macro specialist will debut with about US$25 million of Yip's money in July, trading currencies, interest-rate securities and equity indices, Bloomberg News reports.

Yip worked at SAC for just over a year, joining the firm at the end of 2007 to run Asia-focused macro investments, and leaving in early 2009 when it cut back on non-equity investments.

Yip said he expects his Bright Stream Macro Fund to manage as much as US$300 million within 18 months.

"People talk about Asian macro a lot but there are not that many dedicated Asian macro funds out there," he told Bloomberg. "There is a niche for someone to focus a specific fund on Asian rates and foreign exchange."

William Fong, who worked with Yip at PMA Investment Advisors, and SAC veteran Joshua So have joined Bright Stream, the latter as head of operations.

Yip worked at PMA before joining SAC, running its Harvester Fund. Prior to entering the hedge fund industry, Yip worked at JPMorgan Chase and Credit Suisse First Boston.


In Depth

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note