Singapore-based Kim Eng Securities has established a broking unit in Hong Kong dedicated to servicing the global universe of hedge funds. KE Absolute is the new name for the Asia-based team of EGS, an independent hedge fund broker in the United States. Kim Eng was an early investor in EGS, which began operations in 2000, and has now taken over its Asian operation.
Tom Ashworth, a founder of EGS, will stay on in Hong Kong as KE Absolute's managing director. There is a market gap among the bulge bracket firms in the hedge fund area, he says. I worked at Morgan Stanley. It is a very fine shop. But like...
