Dymon hedge fund tops peers by positioning on right side of Brexit

Hong Kong

A TOP-PERFORMING hedge fund is sticking with wagers on a stronger yen and a weaker pound after the positions paid off following the UK referendum to leave the European Union.

The Dymon Asia Currency Value Fund jumped an estimated 4 per cent on the day the Brexit vote result was announced, and has gained 13 per cent in the first half of this year for investors using less leverage, according to Gerald Chan, head of distribution for Dymon Asia Capital (Singapore) Pte. Fund investors willing to amplify bets through the use of borrowed money saw a 35 per cent return in the six months, he said.