City Financial Unveils US$120M Asian Macro Fund

May 8 2014 | 11:57am ET

City Financial has launched a new hedge fund, which the firm called the largest of its kind over the past year.

The British firm said it had garnered US$120 million for the Counterpoint Asian Macro Fund. The vehicle is led by fund manager Geoffrey Barker, during which he hopes to achieve double-digit annualized returns.

“Volatility in Asian markets has presented lots of opportunities for a fund like ours,” Barker said. “Investors can still capitalize on the region’s growth and seek double-digit returns through the fund.”

“Most other Asian macro funds with a long-standing track record and team are closed to new capital, so capital-raising success in part represents investor demand for an uncorrelated strategy with relatively few available managers.”

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