HSBC Vet Launches Hedge Fund

Jan 3 2014 | 3:07pm ET

A former HSBC Holdings banker rang in the new year with a new hedge fund.

Roshan Padamadan's Luminance Global Fund was set to debut yesterday with about US$2 million in initial assets, Bloomberg News reports. The former product specialist at HSBC hopes to double that number within three months.

Singapore-based Padamadan said Luminance will seek out companies "where the business models survive in almost every scenario."

"In this day and age, macroeconomic developments are particularly hard to call," he told Bloomberg. "We don't want companies which will swing with macro events. We are looking for companies which will be fine irrespective of macro."

Padamadan set up Luminance with Sunand Razu and Swiss-Asia Financial Services, which will provide back-office services.

Luminance will charge a relatively high performance fee of 25%. But the firm will not collect any of it until after three years, and will charge no management fee.


In Depth

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...