EIP builds new business model for hedge funds

Mon May 21, 2012

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Tobias Bland, chief executive officer of Enhanced Investment Products in Hong Kong, isn’t your typical hedge fund manager. For one thing, he started the firm with a series of passive funds that was accompanied by a hedge fund

Tobias Bland

"Our core belief is separation of alpha and beta; beta should be freely available and inexpensive. We’re very different from a normal hedge fund because we run long-only money and hedge fund money," opines Tobias Bland from his office in Hong Kong’s Central district.

Indeed, EIP today manages $450 million, about $365 million of which is in passive long-only funds. Bland, formerly the head of the proprietary trading desk at Jardine Fleming Securities (now part of JP Morgan) started EIP in 2002 with a series of enhanced index funds accompanied by a hedge fund, the EIP Overlay Fund.

The two groups support and play off against one another. The Overlay Fund is a market-neutral arbitrage fund that follows multiple strategies, including index arbitrage, convertible bond arbitrage, event-driven, share class arbitrage and pairs trading. It looks for anomalies in the region and has a captive stock borrowing...

ISSN: 2151-1845 / CDC10004H

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