Hedge Funds

Track record helps Prodigal team sell multi-strategy in long-biased region


A wealth of experience gained in multi-product management at Merrill Lynch has helped Mike Munns and Jeff Lee persuade Asian investors to take advantage of wider investment opportunities

Although Asia is often seen as an equity market play, ideal for when volatility can be tolerated in exchange for higher returns, there is more on offer than straight-forward equities alone – a fact that prompted Sydney-based Prodigal Capital to start a multi-strategy Asia ex-Japan fund in 2005.

The environment offered rich opportunities for the Prodigal Absolute Cayman Fund, yet there was little existing competition from hedge funds and prop traders, recalls founder and chief investment officer Mike Munns.

Mike Munns and Jeff Lee

“We wanted to generate returns from relative value