Triskele China, a Hong Kong-based China equity long/short fund, is seeing significant interest with assets having now breached the $600 million mark. By end June 2011, the firm’s AUM stood at around $626 million, up from $477 million in April.
A relatively buoyant performance in the first five months of the year seems to have boosted interest in the fund among existing investors. The fund attracted at least $100 million in new inflows during June from new investors, with existing ones also topping up their exposure to the strategy.
AsiaHedge data shows that the fund delivered a 7.16% cumulative return between January and May 2011, doing particularly well in April with a 5.68% return. In May, the fund avoided losses unlike most funds focused on Chinese equities. It has significant exposure to companies in the capital goods and consumer staple sectors but was predominantly short on companies belonging to the consumer discretionary sector.
The fund is managed by Tsuyoshi Shiba, who co-found Triskele Capital Management in 2006 with the group’s chief executive officer, Otto Chan. Prior to co-founding Triskele, Shiba was the portfolio manager at Sumitomo Mitsui Asset Management and Otto was the head of China/HK equity sales at HSBC from 2001.
Besides the China fund, the firm also manages the Triskele CB Fund, a US dollar denominated Asian fixed income fund launched two years ago. The fund generated a 4.69% return in the first five months of the year.