Monday, 1 September 2014
Last updated 3 days ago
Mar 17 2008 | 1:06am ET
Hong Kong-based hedge fund firm Myo Capital is gearing up to launch an Asian-focused fund that will focus on undervalued credit strategies.
The Myo Capital Master Fund is set to debut on April 1 with $50 million in assets under management, according to Asian Investor. The new Asian-focused (ex-Japan) vehicle will have four sub-strategies including high-yield credit, distressed, special situations and event driven.
The new fund is being headed up by Justin Ferrier, a former director at hedge fund shop ADM Capital.
“For example, if we are looking at a distressed credit, our Thai or Indonesian analyst will provide local intelligence, while Alfred, our trader, provides the market pricing and can source the credit from a large number of participants,” Ferrier told Asian Investor.
Other principals in the fund include Geoff Lee, who previously worked with Ferrier at Peregrine Capital and will run the special situations portfolio for the new fund; and Alfred Miu, formerly with UBS’s global credit strategies group, who will run the high-yield portion of the fund. In all, there will be 12 members of the team.
The fund is targeting returns of 13-15% net, with a volatility of 7% and a Sharpe ratio of 1.5-2. To start, it will not use leverage, but add use up to 150% as time goes on. The fund has a target close of $500 million.
Merrill Lynch will serve as prime broker for the new Myo fund; Maples and Calder and Simmons & Simmons will serve as lawyers; and HSBC will be the administrator.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...