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Macro Shop LHG Capital Closes Its Newly-Structured Flagship Fund at €450 Million

LHG Capital Management is one of the largest hedge funds dedicated exclusively to global macro investment strategies in the Asia-Pacific region.

CENTRAL, HONG KONG SAR, November 1, 2022 / -- Macro hedge fund LHG Capital Management (“LHG”) announced the closing of its newly-structured closed-ended flagship fund, LHG Premium Investments Fund (the “Fund”), at €450 million (US$445 million), 50% higher than the original €300 million target.

Fund assets are now locked-up with LHG until October 2025.

Earlier this year, in a highly unusual move for the hedge fund industry, LHG's management team decided to restructure the Fund into a private equity-style closed-ended fund with a three-year lockup period as the firm tries to build a longer-term, more stable capital base.

About the Fund
The Fund employs LHG’s flagship Diversified Global Macro investment strategy, which aims to capture diversified sources of alpha across global equities, bonds, currency and commodity markets. The investment style is described by the firm as “a hybrid of discretionary macro and systematic CTA, with a quantamental (quantitative + fundamental) research process”. The investment universe is comprised primarily of futures contracts on global equity index, commodity and fixed income markets, as well as the interbank foreign exchange market.

The Fund was initially launched as an open-ended structure in late 2017 by LHG’s Founder and Co-CIO, Laurence Yang, with only 2 outside investors and €15.5 million under management.

Currently, investors can only access the strategy via the firm’s Separately Managed Account (SMA) program.

In an interview with alternative investment news publisher Opalesque, when asked about the strategy’s investment trajectory on a fundamental basis, Yang said, “as the strategy's AuM grows, we are more inclined to take longer-term trades in less liquid markets (i.e. commodities). A three-year lockup will give us more flexibility to enter into positions that will take longer to work out and deliver alpha."

When asked about his views on global financial markets, Yang added, "we believe commodities will continue to outperform and are more likely to hold long-term positions in this particular asset class. For the same reason (the strategy AuM growth), for short-medium term trades, we will be focusing more on the FX market due to its optimal liquidity."

Fund performance
The Fund reported a 12-month return of 20.59% as of September 30, 2022, with a maximum peak-to-trough drawdown of -5.81%.

About LHG Capital Management
LHG Capital Management is one of the largest hedge funds dedicated exclusively to global macro investment strategies in the Asia-Pacific region. The firm is headquartered in Hong Kong and Zürich, with representative offices in Abu Dhabi, Beijing and Sydney.

LHG's macro strategies employ a top-down, quantamental (quantitative + fundamental) research-driven process to invest in highly liquid financial instruments across asset classes, currencies and geographies. Its multi-process investment approach combines the traditional macro fundamental and relative value analysis with modern-day quantitative analysis powered by supercomputers, machine learning and big data.

Sean Burton - Chief Commercial Officer
LHG Capital Management
+852 2127 0521
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