Aberdeen Asset Management Asia, a Singapore-based fund manager, is preparing to launch its first hedge fund this week, in which it will consider using over-the-counter derivatives. Graeme Sinclair, investment director in Singapore, said once the long/short equity fund is up and running it will look at OTC instruments, such as equity options. "We'll discuss it then with our derivatives desk in London," said Sinclair, estimating the timeframe would be around six months. He declined to elaborate on its derivative plans. "We'll start out small," Sinclair noted.
Aberdeen Asia is part of the U.K.'s Aberdeen Asset Management, which has USD38.32 billion under management globally. The fund's prime broker and main counterparty is Goldman Sachs Global Securities Services in Hong Kong. "We're delighted to be involved with them," said Sam Stubbs, executive director at Goldman in Hong Kong.
