Singapore hedge fund, Whitefield Capital Management, is delivering the kind of returns that should have investors flocking, producing two straight years of double-digit performance.
Singapore hedge fund, Whitefield Capital Management, is delivering the kind of returns that should have investors flocking, producing two straight years of double-digit performance. But ever mindful that these are not ordinary times we’re living in as capital raising continues to be tough, Whitefield has decided to forego performance fees until it doubles its AUM. Last year, redemptions saw assets drop to USD100million and prompted the firm to stop charging its 15 per cent performance fee. Aside from managed accounts, its Asian Opportunities Fund has USD30million in assets, and won’t, according to Managing Director Benjamin Ng, begin charging fees again until it reaches between USD50million and USD100million. "We are trying all means and ways to grow it; we are even prepared to cut a deal with investors who can help us bridge this tougher part of the journey," said Ng. The fund has gained 33 per cent this year having grown by nearly 80 per cent a year ago: just the kind of performance that should attract new tickets.
