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Portfolio > Alternative Investments > Hedge Funds

Asian Broker Starts Specialized Service for Hedge

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HONG KONG (–Kim Eng Securities, a broker with operations in several Asian countries, established a division dedicated to providing brokerage services to hedge funds.

This new unit of Singapore-listed Kim Eng is located in Hong Kong and named KE Absolute. It offers trade idea generation, customized research and strategies, specialist trade execution, and financial technology.

Tom Ashworth heads the new business. He and his team of 10 previously operated EGS Asia Ltd., the Asian division of global hedge fund broker EGS. Kim Eng invested in EGS in early 2000 and acquired its Asian operation last month.

KE Absolute covers equity and derivative products spanning all Asian markets, including Japan. It will also offer Asian managers execution services for U.S. markets. Cash, futures and options execution is available across strategies such as pair trades, options/warrants versus stock trades, index arbitrage and long/short trades.

“Alternative investors demand and require a bespoke, independent service that KE Absolute is committed to providing,” Mr. Ashworth said, in a statement. “The financial industry is undergoing a period of significant restructuring, which is unlikely to abate in the foreseeable future. We view the current environment as a clear opportunity to attract entrepreneurial talent and build a niche service that is focused towards a growth area.”

He added that the group plans to build upon its previous success with a significant increase in the product range and strategy coverage. A new research chief is soon to be announced. The sales team is lead by Jonathan Lloyd, a former Dresdner RCM executive.

Kim Eng Ong Asia Holdings is a member of stock exchanges in Indonesia, Thailand and the Philippines as well as Singapore and Hong Kong.

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