Asia Alternative Asset Partners (Caymans), an Asian alternative fund manager known as Triple A Partners that recently entered the seeding and distribution business, has made its first seed
Asia Alternative Asset Partners (Caymans), an Asian alternative fund manager known as Triple A Partners that recently entered the seeding and distribution business, has made its first seed investment.
Triple A Partners has placed an initial USD10m in the 360 Japan Long Short Fund, an actively-traded Japanese equity long/short fund run from London by John Aylott of 360 Asset Management.
‘We are very pleased to have secured this seeding deal with John Aylott, who has more than 20 years of long/short trading experience in the Japanese equity market, including running the Zan Alpha Fund,’ says Hans Tiedemann, chairman of Triple A Partners.
‘John’s highly disciplined approach should produce returns uncorrelated to both index and peer group. With most allocators currently very underweight in Japan, the 360 Japan strategy is likely to be of considerable interest to investors who are looking to increase weightings to this market.’
Says Aylott: ‘Having Triple A Partners as a partner and seeder will give me a significant edge both from an investment and distribution standpoint; its biggest shareholder, CLSA, will provide middle office support and its highly-regarded research.
‘Triple A Partners has marketing offices in London, Los Angeles and Hong Kong that will give us immediate reach to investors as we look to build the fund’s assets up to USD50m by the end of 2008, and allows me to maximise the time I spend running the fund.
‘As far as the fund itself is concerned, I expect volatility to be considerably less than the underlying market. I will be running a concentrated portfolio of positions which will be managed real time during Japanese market hours.
‘I believe a combination of my 20 years of experience, proven track record, discipline and risk management procedures puts me in a strong position to produce good consistent numbers in both bull and bear markets. The strategy is completely agnostic to market direction.’
Paul Smith, chief executive of Triple A Partners, adds: ‘John is the first of five to six managers which we will partner with in 2008 and we expect to announce our next deal within weeks. In all cases we will provide the respective manager with working capital and their funds with seed capital and distribution. CLSA will provide middle office support to all our managers, including a risk monitoring service through a Singapore subsidiary.’
