Descartes to launch four hedge funds

Asian hedge fund house plans for more as well.

Descartes Finance in Hong Kong is to launch four new offshore hedge funds, comprising three single strategy funds and a multi-strategy fund. The four funds, which are expected to begin trading on June 1, are part of a Cayman Islands-domiciled umbrella structure. The funds to be launched in June are a convertible hedging fund, a global macro fund, an equity longshort fund and a multi-strategy fund.

The multi-strategy fund, the Descartes Athena Fund SPC, is an umbrella fund with a 'Segregated Portfolio Company' structure, and will invest in the single strategy funds.

We will be launching two more single strategy funds, in 2004 and 2005 respectively, says Edgar Chuan,...

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