London-based City Financial Investment Company plans to launch an Asian macro fund in the first quarter of next year in a joint venture with Hong Kong hedge fund manager, Geoffrey Barker.
The move is part of City Financial’s strategy to work with external fund managers. Andrew Williams, chief executive, says the firm has long recognised the potential of hedge fund managers based in Hong Kong.
Geoffrey Barker was previously director of Ballingal Investment Advisors where he set up the BIA Pacific Macro Fund.
City Financial is setting up the joint venture through its subsidiary, City Financial Investment Company (Hong Kong).
The market share of long/short equity hedge funds in Asia has fallen as the market matures and investors increasingly seek strategies that are less correlated to underlying markets.
Data by Eurekahedge for Funds Global Asia, Funds Europe's sister publication, shows that macro strategies are gaining popularity in Asia.
City Financial Investment Company is an independent investment manager with about $1.3 billion (€956 million) of assets under management. It has been active in Asia since 2010 from which time it has managed assets on behalf of UK institutional investors..
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