Kang Hao and Jimmy Weng, former traders of ICBC Credit Suisse Asset Management, are planning to launch a China-focused hedge fund by the end of December.
The traders have set up Genesis Capital Investment in Hong Kong to invest in Chinese shares listed in Hong Kong and in the US, reported Reuters. Both the traders anticipate raising about $100m in 2014.
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Earlier fund from the investors returned almost 140% over the past five years.
Anticipating that Chinese economy will create opportunities, Weng told Reuters that "Earnings growth is still strong, GDP growth is still over 7%, and you have a re-rating potential."
The traders will initially have $20m in initial capital from friends, family, institutions and senior management from ICBC Credit Suisse apart from their earlier firm, reported theasset.com.
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