Pacific World launches merger arb fund

HK-based fund of hedge funds set to hit $1billion AUM.

Pacific World Asset Management, a Hong Kong based fund of hedge funds advisor will soon launch a new single manager fund, the Corporate Arbitrage Manager Fund CAM, focused on merger arbitrage as its core strategy. Paulson Co, a $2.5 billion US-based hedge fund will act as the trading advisor. CAM targets an annual return of 15%-20% with an associated volatility of 7%.

CAM's launch is a good opportunity to capture the rise in MA activity we are seeing in the US and Europe. Bigger deals are expected to come through with bigger spreads meaning higher arbitrage returns, says Clinton Poh, principal and director of marketing at Pacific World. Paulson...

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