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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note