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10 top performing Hong Kong hedge funds, and who they employ

2022 was a… complicated year for finance, with bankers’ performances ranging from “poorly” to “apocalyptic”. Traders, who thrive on the market volatility that the year provided, were in a position to do well – which, generally, they did.

The ultimate volatility experts, however, are hedge funds, some of which had an exceptional 12 months.

We’ve looked at the highest performing hedge funds in Asia and their performance ranking for 2022, courtesy of Bloomberg, and written some introductions for what really is the best of the best in APAC. Unsurprisingly, this list of top performers is dominated by one city – Hong Kong.

Ariose                                                            +48.9%

Founded in 2010 by Yi Xin, a former portfolio manager at China’s Harvest Fund Management, Ariose Capital Management was by some margin the best performing hedge fund in Asia. It is believed that the fund oversees around $750m in funds and took a bearish approach to the Chinese economy’s reopening. It is based in Hong Kong. If you want a job there, you might want to contact COO Bonnie Kwok, who started her career as an accountant at EY.

Alpine                                                            +37.0%

Alpine Investment Management was founded at the start of 2022 by Tong Song, a former Goldman Sachs trader. Its current CEO, Yi Fan, was most recently with Credit Suisse in Hong Kong, where Alpine is currently based.

Kaizen                                                            +26%

Founded in 2020 by Ramesh Karthigesu, a former Marshall Wace portfolio manager, Arjuna Rajasingham, a former Goldmanite, and Shiong Tan, a former Blackstone executive, Kaizen is a Hong Kong-based hedge fund.

Triata                                                             +22.9%

Founded in 2020, Triata is a “tiger cub” – one of the hedge funds that can trace its lineage through seed (funding) to the legendary Tiger Management, one of the first hedge funds in the world. Founders Sean Ho and Edmund Ang came from Tybourne Capital Management and Sayacorp (a Dubai-based hedge fund), respectively. Triata is based in Hong Kong and Shenzhen.

ARCM                                                             +22.7%

Asia Research and Capital Management (ARCM) was founded in 2011 by Alp Ercil, the former Asia head of the now defunct Perry Capital. With an alleged $940m in start up finance, it now has $3.5bn in AUM. It’s current head of trading, Jina Kim, was a former rates trader for Standard Chartered before joining ARCM. The fund is based in Hong Kong.

Golden Pine                                                  +19.9%

Founded in 2016 by Dr. Peng She, Golden Pine has offices in Shanghai and Hong Kong. Dr. She is a PhD in Chemical Engineering, and former analyst at Greenwoods Asset Management, one of the largest hedge funds in Asia. Current COO Andrew Tang, who joined the fund in 2021, is a former BofA and Goldman Sachs relationship manager.

Sylebra Bell                                                   +15.7%

Sylebra Bell is the global hedge fund operated by Sylebra Capital, which was founded by Daniel Gibson in 2011, in Hong Kong. Gibson was a former partner at Coatue, a hedge fund, in New York before starting Sylebra – which he did with Jeffrey Fieler, who joined him from Coatue.

Nine Masts                                                    +14.8%

Hong Kong-based Nine Masts Capital was founded in 2010 by Ron Schachter, James Tu, and Bing Wang. Wang was an MD and head of Deutsche Bank’s proprietary trading desk in Asia before Nine Masts. Schachter worked on the same desk. Tu was an underwriter for DKR Oasis.

Segantii                                                          +6.4%

Segantii, founded in 2007, is one of “the most active hedge funds in Hong Kong”, despite some recent controversies related to block trading. It was founded by British businessman (and owner of Blackpool Football Club) Simon Sadler.

Long Corridor                                               +0.2%

Long Corridor Asset Management was founded by none other than James Tu – yes, the same one who founded Nine Masts (making him the most represented financer on the list). The fund was started in 2019. Tu was joined by Ali Sheikh, former head of hedge fund services for APAC at Northern Trust asset management. 

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Photo by kazuend on Unsplash

AUTHORZeno Toulon

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