Dymon Asia hedge fund to raise US$600m in equity expansion
Move comes as funds betting on rising and falling stocks in Asia have gained more than 12 per cent this year
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Hong Kong
DYMON Asia Capital (Singapore), the hedge fund manager that made its name betting on macro-economic themes, plans to raise an additional US$600 million for a stock fund as it expands its equity business, said President Jay Luo.
The Dymon Asia Equity Fund oversees more than US$400 million, made up of mostly internal capital and money from Singapore state-owned investment company Temasek Holdings Pte, Luo said. The Asia-focused fund has eight managers making long-short investments, with each specialising in a particular area. It returned nearly 13 per cent in the first nine months of 2017, he said.
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