Fund launches & closures

Everest launches $45m China-focused global commodities product

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Everest Asset Management, a new hedge fund outfit set up by former Pinpoint managers Fion Ye and Alex Li, has launched a global commodities strategy focused primarily on China-related stories.

Initial size is $45 million and Everest is in the process of setting up a Hong Kong office. The core team, including the portfolio manager, the head of research, risk and trading, has extensive experience in running a similar commodity strategy with Rising China Fund, having delivered a terrific 70.85% last year.

The fund will invest in commodity-related products, mainly commodity futures through multiple strategies, including long/short. While