16.01.2014 - China's CITIC backs new fund set up by ex-FX concepts execs
CITIC Capital Holdings Ltd, a unit of China's sovereign wealth fund, has invested in a new U.S.-based asset management fund set up by former executives of bankrupt hedge fund FX Concepts, two sources familiar with the matter said on Wednesday. The new fund will be run by Bob Savage, FX Concepts' former chief operating officer and chief strategist, and Ron DiRusso, the firm's co-chief investment officer and director of research. DiRusso had also managed FX Concepts' volatility fund, one of the few funds that performed well near the end of the firm's run...............................................Full Article: Source
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