Saturday, 28 May 2016
Last updated 18 hours ago
May 27 2008 | 9:00am ET
A Singapore quantitative hedge fund shop plans to increase its assets more than fifteen-fold over the next five years.
The appropriately named Quant Asset Management, says it will almost more than triple is assets under management this year, with big plans for the future. The firm said its QAM Global Equities Fund, which returned 44.5% last year, will increase its assets from US$150 million to US$400 million by December.
Quant says the fund could grow to as much as US$3 billion in five years, Bloomberg News reports.
Quant also plans to close its currently-US$65 million QAM Asian Equities Fund at $150 million in December, and then to increase it by 30% per year. The Asian fund returned 66.2% last year.