Asian Hedge Funds Stock Market
Some Asian Hedge Funds Making Gains in Stock Turmoil
Asian hedge funds Vulpes, started by industry veteran Stephen Diggle, and Tantallon Capital are emerging as winners in a volatile August that has wiped out more than $3.8 trillion from global stock markets.
Diggle, who made a fortune during the financial crisis, said his long Asian volatility and arbitrage hedge fund LAVA gained about 4 percent in the first six trading days of the month.
The fund gained as its bets on volatility going up paid off as the U.S. government struggled to piece together a deal addressing its long-term fiscal problems and S&P cut its AAA rating.
Tantallon Capital, founded in 2003 by former Morgan Stanley wealth management executive Alex Hill and Nicholas Harbinson, who earlier worked at Merrill Lynch and Goldman Sachs , gained 4.15 percent in its flagship fund last week, according to a letter to investors seen by Reuters. Source