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Alternative Market Briefing

Yang and Liang join forces to launch macro hedge fund in Asia

Wednesday, March 07, 2012

From Komfie Manalo, Opalesque Asia - Former Huatai Asset Management CIO Yang Yang and veteran derivatives trader Yiming Liang have joined the bandwagon of Asian hedge funds with the launch of Greater China-focused macro hedge fund Goldstream Absolute Return Fund, according to a report by Asian Investor.

Yang and Liang’s move is very timely as Beijing late last month allowed in principle foreign hedge funds to raise capital in the mainland. That is seen by many industry experts as opening a floodgate of opportunities for capital-starved Asian hedge funds to raise money in that country.

The report said that hedge funds wanting to raise capital in mainland China must first register in Shanghai. But those firms must invest only in markets outside the mainland to be allowed the new rule. Shanghai Municipal Office of Finance Service received guidelines from Chinese securities and foreign-exchange regulators that will allow foreign money managers to set up yuan-denominated hedge funds, the report said.

The Goldstream Absolute Return Fund is scheduled to begin trading next month with an initial capital of more than $50m coming from family offices, high-net-worth individuals and funds of funds. The duo appointed Goldman Sachs and B......................

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