City Financial, the independent investment manager with £800m under management, is planning to launch an Asian macro fund in the first quarter of 2014.
The fund will be managed by Geoffrey Barker in a joint venture with City Financial Investment Company (Hong Kong) from its offices in Hong Kong.
Mr Barker was director of Ballingal Investment Advisors for more than seven years, where he set up and ran the firm's BIA Pacific Macro Fund. During this period the company says the BIA Pacific Macro Fund had an average annualised return of approximately 14.1 per cent gross, 10.4 per cent net (versus the MSCI World Index USD of 1.2% over the same period).
This performance won Mr Barker and his team awards from both Eurekahedge and Asian Investor including Best Asia Based Global Macro Fund.
Andrew Williams, chief executive of City Financial, said: "Geoffrey is one of the most respected managers in Hong Kong, with a strong track record. City Financial has long since recognised the potential of hedge fund managers based in Hong Kong and I look forward to working closely with Geoffrey to establish a strong presence for the group in this region."
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Mr Barker said: "I am looking forward to being part of the City Financial team who share my investment values. With the help of my colleagues, I will do my best to protect investors' money while capitalising on the opportunities that this diverse region offers."
City Financial has been active in Asia since 2010 from which time it has managed assets on behalf of UK institutional investors.
City Financial Investment Company (Hong Kong) is a wholly owned subsidiary of City Financial Investment Company Limited.
The joint venture forms part of City Financial's strategy to attract fund managers who are enabled and empowered to exploit opportunities in the capital markets, in order to capture real returns that both protect and grow investors' wealth.