Monday, 20 October 2014
Last updated 2 days ago
Mar 3 2008 | 10:38am ET
Singapore-based Pacific Ocean Capital has launched its debut offering, a long/short equity hedge fund that will make bets on the Asian telecommunications sector.
The Asia Telecom Fund will focus its long positions on companies that are “best positioned in the high growth markets of developing Asia,” and “producing high levels of cash flow without dependence on export products or relative currency values,” according to the firm.
The fund launched on Jan. 2 with some US$10.5 million and finished its first month up 1.40%.
Pacific Ocean was founded by Tom Fuller, former Asia head of telecom portfolio management at Citi, and Tom Hulstead, who joined Bank Danamon as head of corporate finance after his Citi years.
“In the 15 years I have worked in the emerging market telecom industry, I feel that the sector in Asia has the best financial prospects I have ever seen,” Fuller, who serves the new firm as chief investment officer, said. “Underlying earnings are strong due to the massive increase in mobile phones throughout the region, leverage is very low, free cash flow generation is high and many companies have shareholder oriented management that is returning cash to investors.”
The Asia Telecom Fund charges a 2% management and a 20% performance fee with a US$1 million minimum investment requirement.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...