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Hedge Fund Dymon Hires Veteran Manager
Netty Ismail | November 17, 2011

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Dymon Asia Capital, the fastest-growing hedge fund in Singapore, hired a former Brevan Howard Asset Management portfolio manager as assets rose to about $1.9 billion last month.

Rajesh Raman, who previously managed an Asian macro portfolio for the Brevan Howard Master Fund and subsequently became an adviser to the fund, will join Singapore-based Dymon as a managing director in December, the 40-year-old said.

He will primarily focus on trading foreign exchange and rates, Raman said.

Dymon is boosting its staff as it joined the expanding pool of billion-dollar hedge funds in Asia that have benefitted from increased allocations by global institutions.

The manager, which started a hedge fund in 2008 with seed capital from Tudor Investment, re-opened Dymon’s flagship fund to investors in January after capping assets at $320 million last year.

Dymon plans to limit the size of its Dymon Asia Macro Fund at $2.5 billion, after seeing “significant inflows” this year, making it one of the fastest-growing hedge fund businesses in Asia, said Willy Ballmann, the firm’s chief operating officer.

Dymon’s macro fund, which seeks to profit from broad economic trends, is attracting money from US institutions including endowments, pension funds and financial companies after it returned 17.8 percent this year, Ballmann said.

The fund’s best months were in March, when it returned about 8.1 percent, and September, when it rose 5.2 percent, he said. Asian macro funds returned, on average, 0.1 percent this year, according to Singapore-based data provider Eurekahedge.

“The inflows are probably going ahead with the same sort of pace that we have been seeing over the last couple of months,” Ballmann said. The macro fund focuses mainly on Asian currencies, equity indexes and interest rates, according to Dymon.

Raman has been trading Asian markets since 1995, including stints at JPMorgan Chase — where he worked with Danny Yong, Dymon’s chief executive officer and chief investment officer — and Deutsche Bank.

He joined the Rohatyn Group, an emerging markets asset manager founded by former JPMorgan bankers in 2005 when the New York-based firm set up an office in Singapore, then joined Brevan Howard, the hedge-fund company founded by Alan Howard, in Singapore in 2008.

Bloomberg