SAC Capital reaches out via Singapore
The hedge fund firm is concretising its expansion in Asia with a new office in the island country.
S.A.C. Capital Advisors will have two portfolio managers working in the Singapore office, said a Reuters report. A total of 79 discretionary long/short equity portfolio teams make up S.A.C., more than 12 percent of which focus on Asia/Emerging Markets.
According to the report, investors have been diversifying their portfolios with exposure to Asia amidst the region's lead in this year's global economic turnaround. Eurekahedge data also reveal average gains of 31.1 percent through October by hedge fund managers across Asia, with total assets under management pegged at $102 billion.
Headquartered in Stamford, Connecticut, S.A.C. adds Singapore to its list of offices in New York, Boston, Chicago, London, and Hong Kong.
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