Launched in September last year, Platinum Washington is a single manager US equity long/short fund with around $30 million worth of assets under management. Last year, the fund achieved a strong performance, with gains of more than 30%.
Platinum Class A, launched in May 2002, is an equity long/short fund of hedge funds investing primarily in the US, with 19 to 21 underlying funds. A return of 100% initial capital is protected by investing in 10-year US Treasury bonds while also allowing the redemption of up to 8% of the original investment every year of the 10-year product life, after the first year. The fund currently has $25 million of assets under management.
Reeves added that while the firm already has an affiliate office in Hong Kong, it is considering opening further affiliated offices in the region.
The fund will be distributed by major Singaporean and foreign banks, a number of independent financial advisors and at least two of the largest Singaporean stockbrokers. A spokesperson for the firm declined to provide names for the local brokers.