Thursday, 28 August 2014
Last updated 2 hours ago
May 14 2008 | 11:58am ET
Another hedge fund shop has called it quits and this time performance, or lack thereof, is the culprit.
Altendorf, Switzerland-based Hedge Vision Capital, an emerging manager focused on Asia, specifically Japan, has stopped trading its 13-month old US$14 million Hedge Vision Japan Fund. The move follows a series of bad directional bets, which led to massive drawdowns and redemptions earlier this year.
The firm now looking for new seed investors to relaunch the fund after its lead seed investor pulled out, leading to the exodus of smaller investors.
The fund launched in November 2006, pursuing a strategy of long/short Japan-only, directional- and trading-oriented strategies, and, according to the firm, its U.S. dollar Class rose 6.57% last year, ranking it 13th out of the 77 funds reporting under L/S Japan in AsiaHedge, outperforming the Japan L/S Index by 9%.
However, the strategy suffered heavy losses in January, with the dollar class down 14.13% due to “being positioned on the wrong side, with reasonable gross exposure, at a time when markets were very wild.”
The firm stopped trading the fund at the end of January and wound it down as of the end of March.
“What we’re trying to do is wind down the fund but keep it as an empty shell as we continue to look for a new seed investor,” said Philippe Gilliard, managing partner.
Gilliard said the firm remains bullish on Japan stating that “With the whole world underweight in Japan and funds throwing in the towel, those who can stay in business may have really big opportunities when it turns.”
Hedge Vision was founded by Stefan Bollhalder, formerly head of Asia equity trading at Bank Julius Baer Zurich HQ.
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 ...