Launches & Closures

Ex-CLSA strategist gets Penjing seeding for equity macro fund

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Patrick Hugh, formerly head of hedge fund research at CLSA and portfolio manager at Chirin Capital and Altai Capital, is readying the launch of an Asia equity macro fund under the Argun River Asset Management brand, with seed investment from Ronnie Wu’s Penjing Asset Managment. Launch is expected in early June with $20 million.

The fund’s investment strategy will be similar to Hugh’s CLSA sell-side days, entailing thematic ideas and strategies driven by macro indicators, complemented by fundamental research and technical analysis.

Key factors will be direction of fund flows/rotation between primary global asset classes such as US