A former product specialist at HSBC Holding is launching his own hedge fund.
Bloomberg reported that Roshan Padamadan’s new fund, which will invest in liquid securities including stock, bonds and derivatives from around the world, will start trading on January 2 with initial capital of about $2 million. Padamadan is expecting for the fund’s assets to increase to $4 million in three months.
The new fund is launched through Swiss-Asia Financial Services, an investment platform that provides services such as accounting, information technology, legal and compliance to fund managers in exchange for a portion of their fee revenue.
Padamadan previously worked at HSBC for seven years across various divisions, including corporate credit analysis, sell-side research and asset management.
Managers backed by Singapore-based Swiss-Asia manage a total of about $1.5 billion in assets.