Brummer Backs Singapore Quant

Oct 30 2014 | 2:08pm ET

Swedish hedge-fund backer Brummer and Partners has added Singapore’s MNJ Capital to its stable of managers.

The firm has invested US$400 million in MNJ’s Asia-Pacific Absolute Return Fund, an investment which increases its assets under management to US$520 million. MNJ manages a total of US$570 million, Bloomberg News reports.

Brummer has also taken a 40% stake in the firm, which has enjoyed annualized returns of 10.4% from its debut at the beginning of 2006 through last April. It returned about 1% in the year-ended Oct. 15.

MNJ was founded in 2005 by Michael Henderson and Joseph Oyaski. The algorithmic trading firm focuses on U.S. and Japanese equities.

Brummer’s investment in MNJ comes as it redeemed its investment in another quantitative manager Archipel Asset Management, leading that firm to close its doors.


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