SAIL Advisors steers a global path with Asian flavour

Mon Apr 4, 2011

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Hong Kong-based firm builds global capabilities with risk management as a key ingredient

By Claire Makin

Miodrag Janjusevic,  Lanny Lim, Gunther Jost, Harold Yoon
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.

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...

ISSN: 2151-1845 / CDC10004H

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