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Portfolio > Alternative Investments

ING Alternative Asset Management Adds Portfolio Ma

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NEW YORK (–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.

Meanwhile, the Amber Fund opened in August 2001. It’s a structured note composed of an underlying fund of funds that invests in a variety of strategies including relative value, event driven, global macro and long/short equity. Amber invests in between 15 and 25 hedge funds, some of which are also Onyx and Topaz. All three funds are for offshore investors.

Mr. Yoon will work with Brian Fischer who joined ING Alternative Asset Management to build the risk management infrastructure for the hedge fund business and to assist in new hedge fund product development in addition to conducting hedge fund research.

Before joining ING, Mr. Yoon was a managing partner for Kendall Square Capital Management LLC where for two years he managed a high-tech hedge fund and performed all trading and risk management functions. Unfortunately, Kendall Square got its start in March 2000 when the technology sector turned sour and has since closed. Before that he was head of trading risk management for North and South America at ING Barings.


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