A digital asset management firm Point95 Global from Hong Kong recently revealed that it is planning to debut a crypto-quantitative multi-strategy quant hedge fund. For the launch, the company will collaborate with a licensed asset manager from Shanghai, said the co-founder and chairman of Point95 Global, Ye Jingyuan.
This company whose name Jingyuan does not want to reveal has the needed license for managing assets issued by the Securities and Futures Commission (SFC) of Hong Kong and deals in advising on securities.
Private quant hedge fund will target professional investors
This private quant hedge fund will target professional investors and will work on the basis of quantitative hedge fund strategy. It will use complex algorithms and computer modeling for gaining arbitrage trading opportunities across various virtual currency asset classes. The company has a trading team of 40 people working in Shanghai. Recently Point95 Global opened a branch office in South Korean capital city Seoul to serve as a sub-adviser for the hedge fund.
The office will be domicile of the Cayman Islands. The asset manager from Hong Kong will serve as a fund distributor and will manage the hedge fund with its initial size decided up to $30 million. According to Ye, “We are aspiring to be one of the first crypto quantitative fund platforms that are compliant with the Hong Kong securities regulations, by operating with the right licenses. Institutional investors will have more confidence in the crypto asset market if industry players can demonstrate how assets are managed and safeguarded.”
Point95 Global aspiring to become first virtual currency funds in the market
It seems that the company is aspiring to become the first virtual currency funds in the market to follow the securities regulations and perform operations using the right licenses in Hong Kong. The company is planning to launch the hedge fund in the first quarter of next year and will ensure that its working complies with the new regulatory standards that govern the management of virtual asset portfolios as per the Hong Kong Securities and Futures Commission (HKSFC) ruling.