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Bloomberg: Ex-DBS Strategist Plans to Start Greater China Stock Hedge Fund
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Wire: Bloomberg News (BN) Date: Aug 30 2017 9:11:46


(Bloomberg) -- Alex Lee, a former China and Hong Kong market strategist and financials analyst at DBS Vickers Hong Kong Ltd., is starting a long-short equity hedge fund focusing on Greater China.


The Nimbus Greater China Long Short Fund is expected to begin trading in the fourth quarter and invest primarily through pair trades in mid- to large-cap companies listed in Hong Kong, China, the U.S. and Taiwan, Lee said.


 “My time covering financials gives me an edge in a big chunk of the market,” said Lee, who left DBS after seven years in May to start Nimbus Capital Group.


China bank stocks stand to outperform the Hang Seng Index by 10 percent for the rest of 2017, Lee said. China’s lenders have lagged the broader market and are under-owned by institutions -- a trend that’s set to change as interest margins and asset quality improve, he said.


As an analyst at DBS, Lee highlighted six stocks with potential to double over three years in a May 2016 report. The stocks have gained an average 34.5 percent since the report on May 16, 2016, while Hong Kong’s Hang Seng Index has added 40 percent since over the same period.


Lee added another five stocks to the list in February 2017. Those five stocks have on average gained 40 percent since the report, while the Hang Seng Index has added 18 percent over the same period. A separate model portfolio of Lee’s 10 top stock picks outperformed the Hang Seng Index by 28 percent between January 2014 and May 2017, according to data he shared.


The Nimbus fund will be launched via the fund platform at Hong Kong-based OP Investment Management, which provides infrastructure for startup fund managers. Just 36 new Asia ex-Japan hedge funds have started in 2017, on track for the slowest year since Singapore-based Eurekahedge began to track such data in 2000.


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