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City Financial to expand range with Asian macro launch
by Elsa Buchanan on Oct 14, 2013 at 10:33
City Financial is to launch an Asian macro fund for Geoffrey Barker, former manager of the Ballingal Investment Advisors Pacific Macro fund.
Andrew Williams, chief executive of City Financial, said the fund would establish a ‘strong presence’ for the group in Asia.
Commenting on the launch, Williams said: ‘[Barker] is one of the most respected managers in Hong Kong, with a strong track record.
'City Financial has long since recognised the potential of hedge fund managers based in Hong Kong.'
The fund, which is a joint venture with subsidiary City Financial Hong Kong, will launch in the first quarter of next year.
City Financial currently runs about $1.3 billion (£800 million) in assets and has been active in Asia since 2010, where it has run assets on behalf of UK institutional investors.
The launch comes on the back of the hire of former Morningstar OBSR duo Peter Toogood and Gill Hutchison to lead the firm's fund research, and the planned departure of head of UK asset management Ed Rosengarten.
Over the seven years that Barker managed the BIA Pacific Macro fund, he posted an average annualised return of 10.4% net versus a rise of 1.2% by the MSCI World Index.
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