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In case you missed it (17 April 2020)

Andrew Swan joins Man GLG; New York-based Two Sigma launches first onshore fund in China; Global hedge funds down in March; BNP Paribas combats Covid-19; and more...
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STORIES YOU MAY HAVE MISSED THIS WEEK

People moves

Andrew Swan, who was Blackrock’s head of Asia and global emerging market equity strategies, has joined Man GLG as head of Asia ex-Japan equities, as reported by FSA’s sister publication, Portfolio Adviser. Swan, who left his Hong Kong-based role at Blackrock last month, is now based in Sydney. At Man GLG, he will initially run a concentrated long-only Asia ex-Japan equity strategy. He will report directly to Man GLG CEO Teun Johnston…

BNP Paribas Asset Management has appointed Priyo Santoso as president director of its Indonesia arm, PT BNP Paribas AM. In this role, Santoso will oversee the development and execution of the firm’s long-term business strategy in Indonesia. He is also responsible for managing close relationships with both internal and external stakeholders while representing the firm’s global capabilities to local clients. He will report to Ligia Torres, Hong Kong-based CEO for Asia-Pacific. Before BNPP AM, Santoso held various senior roles at PT Mandiri Manajemen Investasi as chief investment officer and PT Danareksa Investment Management as president director…

Business moves

New York-based Two Sigma has launched its first onshore investment product in China via its private fund management (PFM) licence, according to a statement from the firm. The Two Sigma China JuLiang Macro Strategy No. 1 Private Securities Investment Fund, which invests in the onshore futures market, will be distributed to qualified investors in the onshore China market. Two Sigma received its PFM licence in September and set up its wholly foreign-owned enterprise (WFOE) in 2018…

Hedge funds

Global hedge funds lost an average of -7.25% in March, following weeks of financial and economic turmoil created by the worldwide Covid-19 pandemic, according to an Evestment report. Year-to-date, the hedge fund industry is down -9.87%. This year, the biggest losers are event-driven activist strategies, followed by distressed and relative value credit. However, not all hedge funds had negative returns, with volatility, broad financial derivatives and foreign exchange strategies in positive territory…

Source: Evestment

Covid-19

BNP Paribas and its subsidiaries have expanded support for communities impacted by the Covid-19 pandemic, with the group raising its financial commitment to its emergency support plan to at least $55m to help countries including China, India and Indonesia. In Asia, BNP Paribas made donations to existing NGO partners in China in February to purchase equipment for frontline medical workers in Hubei province. In the coming weeks, the bank is expected to channel donations directly to initiatives and hospitals in Jakarta, Mumbai and Chennai to combat Covid-19. Other banks that made efforts to combat the coronavirus include Standard Chartered and Citi

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