Northpoint will shortly be launching its first fund, an Asia equity longshort fund with a Korea focus. Nam Ki Hong, Northpoint's managing partner and ex-head of Korean research at Morgan Stanley, says the fund will be market neutral with at least 40% of its investments in Korean stocks at any one point.
The fund will be targeting a per annum rate of return of 20% before fees, with a volatility of 10%.
Northpoint will launch its fund with less than $5 million under management, most of this consisting of capital from the partners and their families.
We're not aggressively seeking institutional investment at the moment, says Hong,...