PointWorth Management Private is in the process of launching two hedge funds that will take long/short positions in equity markets and may use exchange-traded or over-the-counter derivatives. Dennis See, ceo in Singapore, said the Boulevard Japan and Boulevard Global funds will close at USD100 million each. "We have been looking at futures, options and OTC swaps," he said, adding, "we are not going to be in that space in a big way." In particular, the investment manager is wary of using OTC derivatives because, compared to exchange-traded products, there is no transparency, they are not cheap and they entail taking on counterparty risk.
The company, which has some USD100 million in assets under management, earlier this year launched a pan-Asian hedge fund (DW, 3/5).
