Fund launches: Addax launches Asian ex-Japan FoFs, Hedge-fund backed Aramid plans move into TV production with new fund and more capital into existing fund, MSS Capital opens doors to start-ups, Energy firm RNK Capital to launch L/S equity water strategy, First Avenue raising funds for new Brazil-focused Arsenal Investimentos FoHFs, Choice Alternatives Investments launched two new strategies, Brevan Howard to start India-focused fund
|
|
|
Opalesque Exclusive: Addax launches Asian ex-Japan FoFs
Paris and Chicago-based FoFs manager Addax Asset Management has just launched a new fund, the Vietnam, pan-Asian ex-Japan fund, according to NewsManagers.com. “We will invest in all strategies,” said Mr. Jean-Jacques Joulie, Addax’ president.
The fund, not yet open to investors, starts with €5 million ($7.4m) in AUM, 34% of which will be invested in Addax’ China-focused fund, the Zhong Guo fund, which was launched in December 2006 and returned 44.83% in 2007 (AUM: €16m / $23.7m).
Addax set up a research office in Singapore last year, as Asian funds represent around 30% of the firm’s allocations. “We are very much invested in Asia because of the market and the managers. First of all, there are more opportunities in Asian markets than in ours. And secondly, most good managers leave China, study in the United States and then go back to China to create hedge funds,” Mr. Joulié said. “We are in a period when hedge funds will benefit from a greater advantage.”
Addax manages 6 open funds, 3 structured products and invests in 67 alternative funds, 22 long-only funds and 9 monetary funds. The firm’s AUM increased by 48% in 2007, from €133 million ($197.1m) to €200 million ($296.5m). Corporate website:
Source
NewsManagers.com also report...................... To view our full article Click here
|
|
RSS
