Assets at Polymer Capital Management have hit $4.3 billion following a 65% surge so far this year, bucking a wider industry trend of outflows amid ongoing market volatility, according to a report by Bloomberg.
Assets at Polymer Capital Management have hit $4.3 billion following a 65% surge so far this year, bucking a wider industry trend of outflows amid ongoing market volatility, according to a report by Bloomberg.
A Hong Kong-based hedge fund firm led by a former Asia head of Point72 Asset Management LP boosted assets by $1.7 billion in 2022, defying the outflows seen globally and regionally amid volatile markets.
The report cites an unnamed source as revealing that the Hong Kong-based hedge fund firm, which is led by a former Asia head of Point72 Asset Management LP, boosted assets by $1.7 billion in 2022.
Polymer is a multi-strategy platform in the mould of Point72 and Millennium Management. While data from eVestment suggests that the wider hedge fund industry has seen net redemptions of some $45 billion so far in 2022, multi-strategy firm’s have attracted more than $18 million in new investments capital.
Polymer, led by Chief Investment Officer Angus Wai, now has nearly 50 investment teams spread across offices in Hong Kong, Singapore, Tokyo, Melbourne, Sydney and Taipei, and its main hedge fund gained about 2.4% in the first nine months of this year, way ahead of the Asia average of -10%.
