Saturday, 28 March 2015
Last updated 19 hours ago
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…