Nine Masts steers assets past $200m


Nine Masts Investment Fund, a relative-value capital structure arbitrage strategy headed by Bing Wang, the former Asia head of Deutsche Bank’s Saba proprietary trading desk, has rapidly grown its assets since launch to more than $200 million, buoyed by over 20% returns in the first eight months of operation (by end 2010).

The Asia-focused fund, launched in May 2010 with $30 million, mostly invests in securities that are mispriced either due to technical pricing trends or dislocations within the capital structure.

Wang set up Hong Kong-based Nine Masts Capital Management last year with Ron Schachter, a former Saba