Two executives of Millennium Management are planning to launch a US$1.4 billion hedge fund in Asia, reports suggest.
Citing unnamed people familiar with the matter Reuters reported that the hedge fund will be based in Hong Kong and be named Symmetry Investment Management.
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The hedge fund will be led by Millennium portfolio manager Feng Guo and the company’s Asian regional manager, Michael Robinson.
The hedge fund will invest in both Asia and other global markets in bonds and other fixed-income instruments, as well as rates.
Reuters reported that the fund will follow the relative value strategy, which aims to exploit price discrepancies between different securities by entering into simultaneous long and short positions.
Guo and Robinson may secure about US$1.2 billion from Millenium and another US$200 million from external investors.
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