Keystone Investors, a Singapore-based hedge fund led by Liu Xuan that was spun off from Schonfeld Strategic Advisors, will suspend subscriptions next month after a 160% increase in its assets since its launch in 2022, according to a report by Reuters.
The report cites unnamed sources as confirming that Keystone’s AUM surpassed $2bn after the latest round of fundraising this year. The decision to suspend new investor subscriptions is down to the hedge fund’s satisfaction with the current size.
The hedge fund’s growth contrasts with the $15.6bn of net outflows in 2023 from hedge funds in Asia tracked by fund services firm Citco.
Keystone began trading in April 2022 with $750m of initial capital. The hedge fund follows a low-net strategy involving long and short bets on hundreds of companies, aimed at reducing correlations. Its flagship fund reported a 20.5% return in 2023 after a 2.8% gain in 2022, contrasting with Asian hedge funds’ average 5.8% return, according to data provider HFR.
