A pair of former portfolio managers at ICBC Credit Suisse Asset Management, the joint venture between Industrial and Commercial Bank of China and Credit Suisse, has launched their own China hedge fund.
Reuters reported that Kang Hao and Jimmy Weng’s Genesis Capital Investment will start trading by the end of this month and aims to raise about $100 million in the next year. The fund will trade Chinese shares listed in Hong Kong and the U.S..
Hao and Weng have already secured about $20 million in capital, and are currently in talks with ICBC Credit Suisse to be a potential investor in their fund.
China has loosened its restrictions on hedge funds in the country in recent months through numerous economic reforms.