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New China hedge fund targeting Hong Kong investors

New China hedge fund targeting Hong Kong investors

OP Investment Management (OPIM) has partnered with L Squared Management to launch a China hedge fund targeting accredited investors in Hong Kong.

The Cayman-domiciled Long-Term Leader Fund I SP will deploy a long-short strategy focusing on companies with China exposure.

Hong Kong-based Liyang Lu, who is the founder of L Squared Management, is the manager for the fund. The new fund aims to invest in companies that have a sustainable and increasing economic moat.

OPIM, which is a hedge fund platform, is the sub-investment manager for the fund.

OPIM has partnered with various Chinese managers launching new hedge fund strategies targeting accredited investors in Hong Kong. 

Last month, OPIM partnered Ansen Investment Management to launch new hedge and private equity (PE) strategies for professional investors.

The new hedge strategy – Ansen Global Investment fund SP – uses a discretionary, long-short approach towards multi-asset investments.

The PE strategy – Ansen Global Aggregate Fund SP – will focus on direct investments through debt financing in private companies in a broad range of sectors such as art, entertainment and recreation, finance, real estate, healthcare, artificial intelligence and energy.

In April, OPIM teamed up with Longrising Asset Management to launch a China hedge fund targeting professional investors.

The Longrising Prosperous China fund will replicate Longrising’s strategy in China A-share market partially, and deploy a top-down, long-short strategy mainly investing in China-related equities that are listed in China, Hong Kong, and US stock markets.

These hedge funds were launched at a time when performance of Asia ex-Japan hedge fund struggled throughout the year.

Asia-focused hedge funds posted the largest declines among regional mandates in June, mirroring their disappointing performance for the first half of the year.

Asia ex-Japan mandates lost $1.2 billion through underperformance and $700 million in asset outflows last month, while hedge funds globally were down 0.34%, according to Eurekahedge data.

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