Saturday, 30 July 2016
Last updated 17 hours ago
Aug 20 2013 | 12:58pm ET
Expedition Advisors is calling it quits after just over a year in business, citing losses and the low-volatility investment environment in Asia.
Hong Kong-based Expedition debuted in May of last year, seeded by Protégé Partners. But the firm, which launched with about US$50 million, lost 14% from that point through March, Bloomberg News reports.
"A prolonged period of suppressed volatility combined with a low 'vol of vol' environment created a very difficult backdrop for our core strategy," Craig James, Expedition's founder and chief investment officer, said. "Given the current climate, it was decided that money would be returned to our strategic investor."
James founded Expedition after serving as head of Asian trading at AM Investment Partners. Prior to joining AM, he worked at Morgan Stanley.