Komfie Manalo, Opalesque Asia, for New Managers: A group of former Société Générale traders, led Jong Beum Kim, is planning to start a new hedge fund that aims to profit from Asian market volatility and the mispricing of related securities, reported Bloomberg.
The Three Stones Asian Multi-strategy Fund, which will focus on relative value and volatility trading, is scheduled to start trading on Nov. 30.
According to LinkedIn, Kim, former Co-Head of Equities, Asiapac, at Société Générale, has been CIO of Hong Kong-based Three Stones Capital Ltd (not to be confused with Luxembourg-based PE manager Threestones Capital Management SA) since January 2015. Three Stones was incorporated on 21st April, 2015.
Alexandre Avanian, former managing director at Société Générale, joined him this month as portfolio manager. Sebastien Cerbourg, former head of quantitative trading at Société Générale, also joined the firm, says Bloomberg. Nicholas Bloom, a former Asia COO of Citadel, has taken the chief operating officer role.
The report said that Three Stones will use three strategies rarely seen among Asian hedge funds, namely capital structure arbitrage, option-based trend-following, and volatility trading.
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