China Everbright makes hedge fund foray

Chinese asset management firm launches greater China fund.

The asset management arm of China Everbright, a financial services company directly under the supervision of the State Council of the PRC, has launched its first hedge fund product. The Dragon Fund, a greater China multi-strategy fund, was launched in early January with $40 million of seed capital invested by China Everbright.

The fund will have a bias towards the longshort equity strategy but the portfolio will include other instruments such as fixed income and currencies, says portfolio manager Frank Ren.

Ren, a hedge fund industry veteran, joined the Everbright team four months ago to spearhead the new initiative. Previously he was a portfolio manager...

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