Last year, hedge fund manager Danny Yong, who runs Singapore-based Dymon Asia Capital, outperformed all other Asian hedge fund managers with $1 billion or more AUM, Bloomberg BusinessWeek reports.
In 2011, his Dymon Asia Macro fund was up 17.8%.
This 40 year-old hedge fund manager is really, really lucky.
Not because his fund kicked butt while most other funds got crushed in 2011, but because of who seeded him and when.
Hedge fund titan Paul Tudor Jones seeded Yong’s fund with $100 million in 2008 right before the collapse of Lehman Brothers and the onset of the recession, according to the report.
Talk about great timing! Since then, Yong’s fund has expanded to $2.85 billion AUM.
What’s more is Jones, who is also a noted philanthropist, seems to have had quite an impact on Yong.
“We wouldn’t be here if it wasn’t for Tudor,” Yong told Bloomberg BusinessWeek. “In my mind, Tudor is the best macro fund in the world. There’s a culture of fairness and excellence. These values emanate from Paul himself. It is good to see the good guys win.”
Yong is also looking to hire a CEO for his hedge fund, the report said.