Touring Asia for new hedge fund managers

Bank of Bermuda wants to give two Asia-based hedge fund managers a slice of its $160 million alternative fund of funds.

The allocations will bring the number of managers in the bank's All Points alternative class fund of funds to 17, a comfortable number according to head of European investments for Bank of Bermuda, Adrian Fairbourn.

Fairbourn, whose remit also includes Asia, was in the region late last week to meet with potential candidates. Two Hong Kong addresses on his list were the offices of the Pheonix fundĀ and the WF Asia Fund, a newly-launched longshort equity fund run by former Lloyd George Management stars Scobie Ward and Peter Ferry.

The managers will be chosen based on their ability to meet strict due diligence requirements, add diversification to the fund and provide consistent returns,...

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