After record inflows, macro hedge fund LHG Capital's AUM surpasses US$750M | Paragon Alpha

After record inflows, macro hedge fund LHG Capital's AUM surpasses US$750M

By Matea Gucec

A hedge fund specializing in global macro investing strategies, LHG Capital Management, saw net inflows of more than US$600 million in 2022. In August 2022, the company's total assets under management exceeded US$750 million, making it one of the biggest hedge funds in the Asia-Pacific area devoted solely to global macro investment.

The LHG Premium Investments Fund (the "Fund"), the hedge fund company's flagship global macro fund, posted a 6-month return of 15% between October 2021 and April 2022, with a maximum peak-to-trough downside of -2.17%.

As the company works to develop a longer-term, more stable capital basis, LHG's management team made the decision to convert the Fund into a closed-ended private equity fund with a three-year lockup period after significant consultation with its flagship fund investors.

The newly established closed-ended fund received an extra €250 million (US$260 million) from LHG's existing investors in July, which significantly increased the company's assets under management.

The expansion of LHG's asset base also benefited greatly from the introduction of new products. The company introduced its first onshore Yuan-denominated fund in mainland China in April. Strong investor demand led to the onshore fund ceasing to accept new capital as of August.

The company also launched its personalized Individually Managed Account product in May, and Patrick Pfister, a seasoned macro trader and family office advisor headquartered in Zurich, was hired as its portfolio manager.

When LHG's co-chief investment officer Laurence Yang established the company in 2017, the majority of its investors were family offices and high-net-worth individuals. The company has now effectively expanded its clientele to include Fortune Global 500 firms, significant consortiums, and private banks.

Global alternative investment management firm LHG Capital Management specializes solely in global macro investing. LHG maintains representative offices in Abu Dhabi, Beijing, Sydney, and Zürich in addition to its strategic headquarters in Hong Kong and Liechtenstein.

The top-down, quantamental (quantitative + fundamental) research-driven process used by LHG's macro strategies allows it to invest in high-conviction ideas across asset classes, currencies, and geographical regions.



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