SAIL Advisors steers a global path with Asian flavour
Mon Apr 4, 2011
Hong Kong-based firm builds global capabilities with risk management as a key ingredient
By Claire Makin
With risk, the hottest topic in the industry, most funds of
hedge funds have recently beefed up their processes and
personnel. But at Hong Kong-based SAIL Advisors, the risk-based
culture is more deeply entrenched. The aim of SAIL's almost
obsessive focus on measuring and managing risk is not only to
control beta risks, but also to isolate alpha. This, after all,
is what funds of funds are paid for, points out chief
investment officer Harold Yoon. "Assessing all the different
risks is a starting point for assessing alpha, and if you can't
do that well I don't think you can be a good hedge fund
investor," Yoon says.
|Miodrag Janjusevic, Lanny Lim, Gunther
Jost, Harold Yoon
SAIL, which oversees $2 billion in five funds, believes that
alpha is both scarce and short-lived, and what is more, cannot
be measured directly. Yoon calls this...
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