Asia is gearing up for its second largest hedge fund launch this year.
Asia is gearing up for its second largest hedge fund launch this year. On 16th June 2011, Principia Capital Advisors received an asset management license from Hong Kong’s market regulator, the SFC. The firm is registered under the name PCA Investments. The Hong Kong and Beijing-based firm is being established by Hang Hu and former Merrill Lynch executive, Wing Lau and plans to launch with more than USD750million in assets. This follows April’s launch of Morgan Sze’s Azentus Capital, which raised USD1billion at inception and has since gone on to almost double its assets. PCA plans to run three strategies when it commences trading according to sources who spoke to Reuters last month: a CTA strategy, which trades global liquid futures markets, a credit strategy and an equity strategy. How much of the expected USD750million in assets will be allocated to each of these three strategies isn’t yet known. With yet another large fund ready to make its name in the region, Hong Kong is starting to consolidate its position as an important global hedge fund centre.
