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Jain Global to launch with strong Asia presence

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Bobby Jain’s new hedge fund firm, Jain Global, is poised to employ over 30 staff members in Asia by its July launch, leveraging a management model that will give local leaders key responsibilities like hiring and risk management, according to a report by Bloomberg. 

According to an unnamed Bloomberg source, the new hires, roughly divided between Singapore and Hong Kong, will include over 10 portfolio managers. 

Jain Global has secured a permanent lease for an office in Singapore’s Central Business District, accommodating 40 employees, with plans to move in by September. A similar long-term lease for a Hong Kong office is also expected this month. 

Early hires include Alan Ng, who specialises in Japan-focused equity arbitrage, event-driven and special situations investing, and Zhang Yang, a systematic trading portfolio manager from Squarepoint Capital, both based in Singapore. Meanwhile, BlueCrest Capital Management’s Amir Ravan will manage commodities with a focus on precious metals. 

Sam Kellie-Smith, the firm’s Asia-Pacific chief executive and chief investment officer, will oversee and mentor regional portfolio managers. Kellie-Smith was previously at Morgan Stanley, where he held various management roles including chairing the global markets division and overseeing Asia equities trading. 

The firm’s Asia operations will be treated as a distinct business with local leadership. Globally, the firm will focus on six investment strategies: fundamental stock picking, equity arbitrage, commodities, rates and macro, credit, and systematic trading, all of which will be employed in Asia.  

Jain Global’s strategy diverges from global peers by establishing a robust Asian presence from inception, rather than expanding into the region after years of operation elsewhere. This contrasts with the typical “bolt-on” method, where regional traders often report to strategy heads based in other locations. 

Commodities will be a key area for Jain Global in Asia, with precious and base metals, power and gas trading offering opportunities amid rising inflation and resource constraints. 

The firm is also targeting equity arbitrage strategies, capitalising on increased share price volatility and higher interest rates that have spurred convertible bond offerings from major companies. 

Jain, a former co-chief investment officer at Millennium Management, aims to raise $5bn for his eponymous firm, marking one of the most significant hedge fund launches globally in recent years. 

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