A pair of executives from New York-based Millennium Management is planning to launch an Asia-focused hedge fund.
Reuters reported that Millennium portfolio manager Feng Guo and the firm’s Asia regional manager Michael Robinson are expecting to open Hong Kong-based Symmetry Investment Management in the first quarter of 2014.
The article added that Guo and Robinson have secured approximately $1.2 billion in seed capital from Millennium and an additional $200 million from external investors.
Symmetry Investment will invest in bonds, rates and other fixed-income instruments. The fund, which will invest in both Asia and other markets across the globe, will utilize a relative value strategy.
Founded in 1989 with $35 million by Israel Englander, Millennium currently manages about $18.6 billion.