Singapore

Quantedge global macro fund gains 32 per cent in 2011

Singapore-based hedge fund Quantedge Capital saw its global macro fund gain 32 per cent last year and now aims to be double assets to USD400million by the end of 2012 reported Reuters. In what was the second worst year for the hedge fund industry, Quantedge easily outperformed Hedge Fund Research’s HFRI Macro Index, down 3.60 per cent in 2011. According to Leow Kah Shin, who co-founded Quantedge in 2006, most of the year’s returns came from its bond portfolio “offsetting the slight losses in our equities and commodities portfolio”. In an investor letter seen by Reuters, the fund’s best months were April, July and October, when it generated double-digit returns. The fund had an even better year in 2010, generating an incredible 82 per cent. Leow said that there were no plans to soft-close the fund “at the moment”. Even though it has capacity to manage more than USD1billion given the liquid nature of the instruments it invests in, Leow was quoted as saying: “However, we are only accepting subscriptions from like-minded investors, i.e. those who are able to handle our volatility in exchange for really high long-term returns.”   

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