SinoPac Asset Management, a wholly owned subsidiary of SinoPac Holdings, is planning to launch a new Accudo Asian Value Arbitrage Fund in March 2014.
The new fund will be headed by Manuel Schlabbers, who will join the firm on 1 March 2014. Prior to joining SinoPac, Schlabbers has worked at Morgan Stanley and Credit Suisse for eight years in arbitrage trading.
The Accudo Fund will focus on small and micro-cap companies and will combine value investing with liquidity-constrained arbitrage strategies to focus on under-researched areas of the market.
Additionally, the fund will provide investors with superior, risk-adjusted returns and will start with initial capital from Sinopac, Principals and third party investors.
However, the new strategy is anticipated to grow to US$30 million by the end of 2014.
SinoPac Solutions + Services (a comprehensive portfolio management support platform within the SinoPac Holdings family of financial services) will serve as the fund administrator.
Diederik Werdmölder, CEO of SinoPac Asset Management, said: "His fund is a complementary strategy to the funds already on our platform. We look forward to bringing his new strategy to our investors and help Manuel grow the assets of his fund."
Schlabbers said: "Their platform is an ideal turnkey solution for managers of small- and medium-sized funds. The target is to beat the MSCI AC Asia ex-Japan Index by at least 5% per annum over a five year period."
Steve Bernstein, chief executive officer of SinoPac Solutions + Services, said: "Our joint services include business setup, middle office, back office operations, investor services, fund administration, licensing, capital introduction and seeding."
SinoPac Holdings with assets of more than TWD$1.3trillion (approximately US$43.3billionn), currently employs more than 8,200 people.