NEW YORK (HedgeWorld.com)–Harold Yoon joined ING Alternative Asset Management as a portfolio manager for its hedge funds of funds business. Mr. Yoon joins four existing portfolio managers and will co-manage Onyx, Topaz and Amber portfolios. ING Alternative Asset Management manages almost US$4 billion in alternatives, which includes hedge funds, hedge funds of funds and high yield investments.
The first fund the Onyx Fund offers investors the volatility of a fixed-income vehicle in the packaging of a UCIT I fund, which is mutual fund-like but is less restrictive in terms of who is allowed to invest. The fund was launched on April 2001 and invests in relative value and event-driven strategies.
On May 1, 2001, the Topaz Fund was launched targeting a more aggressive European investor willing to take on equity-like volatility. The fund is a UCIT II structure, a private placement structure registered in various European countries. Topaz invests in long/short equity strategies and global asset allocation portfolios such as global macro and emerging markets.