Prodigy readies second CB arb fund

The Taiwan hedge fund manager aims for a December launch.

Prodigy Asset Management in Taiwan is preparing to launch its second convertible arbitrage fund and is now finalising arrangements with its likely prime broker, Morgan Stanley. The $200 million manager wants to provide a hedged product with lower volatility to complement its first fund, which does not short.

The firm was established last year by the former derivatives team at Yuanta Core Pacific Securities, says Samuel Wang, founder. Most of its assets are managed for individual clients, like a managed account, but in March this year it launched a convertible arb fund that now has $37 million under management. Its clientele is mainly Taiwanese corporations, with a small portion individuals' money.

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