Dai Jixin, an 11-year veteran at Soros Fund Management, is reportedly seeking investors for his own global macro fund in Hong Kong.
According to Bloomberg, Dai is hoping to raise around $750 million for his Trigram Global Macro Fund, and has opened it to institutions for the first time since it began trading in 2013. As for performance, Dai clocked in 3% gains in 2013 and returned nearly 22% in 2014. For the first quarter of 2015, his fund raked in 9.2% on the $284 million it currently manages.
Despite the huge time differences between the region and the U.S., global macro funds have surprisingly flourished in Asia. Danny Yong and David Chan’s $3.5 billion Dymon Asia Capital has been doing pretty well over the years and Adam Levinson’s Graticule Asset Management is currently managing around $4 billion after launching just last year.
As a whole however, macro funds still aren’t that popular in Asia. Macro managers command just over 7% of total Asian industry assets, a tiny piece of the pie compared to the 64% share equity managers currently enjoy.
Photo credit: International Monetary Fund via Flickr