Vision Investment Management was founded by
Jerry Wang in 2000. The Hong Kong-based firm currently runs two
segregated accounts and three funds of funds, including the
Pan-Asia flagship Vision Asia Maximus Fund, as well as an Asia
and a Japan fund of funds with macro overlays. Wang talks to
AsiaHedge about the hard lessons learned in 2008 and how only
those players in the industry that can adapt to the new
paradigm will be able to survive.
AsiaHedge: Now that 2008 is behind us, what is your assessment
of the year?
Jerry Wang: In reality, 2008 was somewhat anti-fundamental.
As an absolute return fund, our job is to run a
well-diversified portfolio. We believe we pick good managers
and use managers characteristics to offset risk, in
effect employing managers to hedge each other. Those kinds of
relationships did not hold in 2008. The fund of funds model was