Winnington Capital | Kenneth Hung | Hedge Fund Notes

Winnington Capital

Winnington Capital | Hedge Fund Notes


Below please find the Hedge Fund Tracker details for Winnington Capital:

Resource #1 Kenneth Hung is the fund manager for the Trophy Fund, a long/short equities pan-Asian hedge fund. The fund returned almost 300% in 2003 and has posted an annualised return of 57% since inception in September 2001. They currently have US$8 million in the Trophy Fund and US$10 million in a separate managed account.

Interview with Kenneth Hung
Can you first give us a brief outline on the key individuals at Winnington Capital?

We have five people. I make most of the decisions. I have two assistants, one with an accounting background who does research and analysis of companies; the other is a computer programmer who filters and screens companies and markets. source

Resource #2
: Winnington Capital Ltd (WC) was granted an option to raise its stake to 49% from 25% by acquiring a further 24% stake in Foresight Profits Ltd (FP), a real estate investment firm and a wholly-owned unit of Shui On Land Ltd's wholly-owned Shui On Development (Holdings) Ltd subsdiary, for 1.27 bil Hong Kong dollars ($162.814 mil US). Concurrently, WC agreed to acquire a 25% stake in FP. The transactions were subject to shareholders' approval. source


Resource #3: (4.24.09) Winnington is preparing to launch 2 new investment funds: (1) Winnington Opportunity Fund LP, a public equity hedge fund focusing on small to mid-cap companies, and (2) Winnington Private Equity Fund LP, a private equity fund also focusing on the small to medium sized enterprise. These funds will be of interest to the high net worth individual seeking to diversify a portfolio through the use of alternative investments. source


Resource #4: Minter Ellison advised Winnington Capital Limited, the fund manager for Trophy Property Fund, on its US$272 million acquisition of 50% of the shares in Rightchina Limited from Score High Limited. The transaction involved the acquisition of a 25% stake together with an irrevocable call option for a further 25% equity interest.

Rightchina Limited is an off-shore real estate investment company undertaking a super high-rise property development in Chongqing, PRC. 

Score High Limited is a subsidiary of Hong Kong-listed real estate development company, Shui On Land Limited.

The Trophy Property Fund is a US$1 billion Asian real estate private equity fund launched in April 2008 to invest in city core, large scale, multi use development projects in China source

Resource #5: "They are one of the most aggressive funds," said Peter Douglas, principal of GFIA, a Singapore company that tracks the hedge-fund industry in emerging markets. "Your degree of concentration or diversification is one of your tools. It's like a power drill: it's a great tool, but if you don't handle it well, you'll get hurt."
Trophy's performance this year marks a sharp turnaround from the 26 percent the fund lost in 2005. The fund sold some shares before they peaked and failed to buy others at the bottom, Hung said. source

Resource #6: Winnington Capital has found significant investor interest for its first real estate fund, an opportunistic vehicle targeting development in China.
The Hong Kong player initially set out last summer to raise $750 million for Trophy Property Development Fund. But market players said the fund is about to surpass $1 billion of equity and could wind up with as much as $1.3 billion. source


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