Q2 ends off with a roar in the Crypto space. Crypto Currencies have again entered into a bull mode and volumes have increased massively. At Swiss-Asia we are again seeing increased interest in the Crypto space via new fund launches in the space and numerous Crypto Fund of Funds interested in finding the right Managers to allocate to. As a leading-edge Fund Platform, we are embracing this new asset class and have partnered with MG Stover & Co. to deliver leading-edge middle and back-office services to these emerging Crypto managers. MG Stover & Co was founded in 2007 by prior Big 4 auditors and fund operators. The fund accounting and administration company utilizes customized technology for portfolio and partnership accounting, investor services and treasury as well as a proprietary cryptocurrency portfolio accounting platform, called Interchange (FKA CoinVantage). The firm supports a diverse range of clients including hedge funds, fund of funds, private equity & venture capital funds. They accepted their digital asset client in 2014 and now services over 65 crypto funds with more than $2.5B in crypto-specific AUM.
As Global hedge fund liquidations again exceeded launches for the third consecutive quarter as managers faced a tough capital-raising environment we are seeing a very different situation in the Crypto space. A very interesting Crypto Hedge Fund Report was published by PwC in conjunction with Elwood on the current Crypto Hedge Fund landscape. It can be found by clicking here. Kudos to Henri Arslanian and his team for putting this comprehensive report together.
From a Swiss-Asia platform fund performance perspective, we have seen amazingly strong performance from the Macro Funds Vanda and Prulev leading the pack by a serious margin. Next, come a string of Equity Managers with two outliers LTCP and Ddraig that have managed to push boundaries and overperform the Indices quite substantially.
From an AuM perspective, we would like to highlight that Prulev has pushed comfortably past the USD 300 million mark and Vanda is approaching the 200 million mark. One of our top performers, LTCP Fund, has hit the 40 million mark as a large US endowment client has doubled it’s allocation to the strategy.
FUND PLATFORM DEVELOPMENTS
Antwern Tactical Trading Fund (Launch 01.05.2019). The Fund aims to deliver meaningful risk-adjusted returns across all market conditions through opportunistic and adaptive trading in the global equity, fixed income, commodity and volatility markets. The Fund’s allocations to various markets, regions, sectors and individual names are managed dynamically according to an integrated investment/risk management framework that combines discretionary macroeconomic and company/sector-specific analysis with quantitative models. The Fund is managed by Chue Zheng Yang, who was previously responsible for all quantitative research at the pension programme of Singapore’s Ministry of Defence from 2015 to 2017. Zheng Yang holds M.S. Operations Research and B.S. Financial Engineering degrees from Columbia University in the City of New York. He is a certified Financial Risk Manager.
Kernel Fund SP (Launch 01.07.2019) – Kernel Fund is a crypto-currency quantitative Hedge Fund with a systematic approach, focusing on quantitative and arbitrage strategies. The managers develop their own in-house trading algorithms adopting a creative and scientific approach to crypto trading, to extract alpha from one of the most immature and emotionally driven markets. The strategies perform best in high volume and volatile conditions and are not sensitive to market directions. Julien Guerrand, the Kernel fund manager has 15 years of experience in market making options and trading volatility on the most liquid markets in the world. Systematic trading system designer. Successfully founded and managed an equity derivatives, systematic & market-neutral hedge fund. MS in mathematics.
WEALTH MANAGEMENT DEVELOPMENTS
Jean-Philippe Lionnet – Wealth Manager – Onboarding date – 13 May 2019 Having studied in the North-East of France (Nancy), it is natural that Jean-Philippe started his career in Luxembourg. First as a fund auditor (PWC), then carried on as a derivatives on Foreign Exchange trader at the Societe General Bank. This lead him to taste the London drizzle in 2005 and the equity derivative business. He stayed on until 2010 with Commerzbank. It is a time during which he encountered the HK typhoons and Singapore tropical rains. He then joined the wealth management industry ( SocGen, DBS, UBS) in order to have a positive impact on the personal finances of his customers. Jean-Philippe now calls Singapore home for the last 12 years. He is married to a Singaporean lady, a music teacher and has a 4 year-old son. He enjoys sports, especially Basket-ball, Snowboarding, and the occasional running and golfing.
On behalf of Swiss-Asia we wish you all a great 3Q.