SAC Hong Kong Vet Wu Readies Volatility Fund

May 31 2013 | 12:21pm ET

A former SAC Capital Advisors trader is planning a volatility hedge fund for launch later this year.

Miaodan Wu has set up Bach Option in Hong Kong. The new firm will launch its maiden fund by the end of the year, Reuters reports. It is unclear how much the fund will debut with, or how much Wu hopes to raise in total.

Wu has hired former Citigroup equity derivative sales professional Henry Ondo for the new effort.

Wu was part of an exodus from SAC's Hong Kong office earlier this year, when seven members of the embattled hedge fund's team there left the firm, and five others were transferred to New York and London. He worked at the firm for seven years.

SAC is suffering under the cloud of an insider-trading investigation; it has been hit with more than US$1 billion in redemptions and expects more on Monday. In addition, federal prosecutors are considering criminal charges against the firm.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of