HONG KONG, Sept 18 (Reuters) - UK independent fund manager City Financial is looking to double its Hong Kong staff in coming months, looking to benefit from an increase in investment flows to the region and launch a second hedge fund, Chief Executive Andrew Williams said in an interview.
The firm has started discussions with fund managers to form a new team, adding to the nine already at City Financial’s office in Hong Kong’s financial district, Williams told Reuters.
The new fund will have a “complementary strategy” to the Counterpoint Asian Macro Fund managed by Geoffrey Barker, who was previously with Ballingal Investment Advisors. The new fund will target long/short investments in China equities and a variety of Asian credits, he added.
City Financial, which has $2.2 billion in assets under management, launched the Counterpoint fund in May as a joint venture with Barker, calling it the largest macro fund launch in the region the past year. The fund has grown to $150 million on Sept. 1 from $120 million in May. (Reporting by Elzio Barreto; Editing by Michael Perry)