Performance

True Partner blazes a trail in vol arbitrage

by

Ralph van Put
Hong Kong-based True Partner Fund, an Asian equity volatility arbitrage fund that has delivered 16.7% returns since its inception a year back, is opening to external investors with the intention of scaling up assets to $200 million.

The fund, which started quietly with $21 million in seed capital and internal money last July (and now at $33 million), is one of the best-performing funds in the Asian volatility space this year, and is attracting significant investor interest due to its market-neutral, absolute return strategy.

The fund primarily buys and sells relatively undervalued