The asset management arm of China Everbright, a financial services company directly under the supervision of the State Council of the PRC, has launched its first hedge fund product. The Dragon Fund, a greater China multi-strategy fund, was launched in early January with $40 million of seed capital invested by China Everbright.
The fund will have a bias towards the longshort equity strategy but the portfolio will include other instruments such as fixed income and currencies, says portfolio manager Frank Ren.
Ren, a hedge fund industry veteran, joined the Everbright team four months ago to spearhead the new initiative. Previously he was a portfolio manager...
