In a choppy month, the Richland Asia Absolute Return fund found plenty of opportunities to trade, and ended up 1.04% for August, 4.29% year-to-date.
The team’s strengths in short-term trading came into play, explains Richland’s Alex Au, with turnover reaching eight times in August, as it had in July. The fund’s American Depository Receipt arbitrage and event-driven strategies both contributed to August’s gains.
The benefits of bringing in new chief operations officer Elena Lau and three additional traders to the team over the summer started to reap rewards in August. The firm had wanted to expand the trading