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Singapore’s Akshayam Asia Fund profits from active shorting

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An article published in AsianInvestor this week has shone a light on the active equity long/short trading strategy of the USD30million Singapore-based Aksha

An article published in AsianInvestor this week has shone a light on the active equity long/short trading strategy of the USD30million Singapore-based Akshayam Asia Fund. Established by Kedar Wagle and Ajay Sharma in June ’09, the fund is reportedly up +17.47 per cent net of fees, using an investment mandate that covers Asia ex-Japan and ex-Australia. Wagle told AsianInvestor that there were three differences to how the Akshayam fund portfolio is constructed. Firstly, all stock positions picked by Wagle and Sharma are done using bottom-up analysis and proprietary research. Secondly, each position is borne out of conceptualized ideas rather than those proffered by sell-side analysts. Thirdly, the fund actively tries to generate returns on both the long and short sides of the portfolio. Single-stock shorting is used, rather than index futures. Generating alpha in all market conditions by picking the right stocks to short is no easy process and carries necessarily high risks. To that end, Wagle and Sharma play to each other’s strengths. Sharma analyses sectors including technology, healthcare, consumer and industrials, whilst Wagle focuses on finance, telecoms, utilities, property and energy. The fund’s main investor, currently, is KE Capital.

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