EIP builds new business model for hedge funds
Mon May 21, 2012
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
"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
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
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