|Northwest Investment Management is aiming to raise a total of $250 million from institutional investors for a new hedge fund, according to an article from Bloomberg. The new offering, the Northwest Equity Alpha Fund, will employ a market-neutral strategy and will rely on fundamental analysis to select stocks in Hong Kong, China, Japan, Taiwan, and India. The fund will concentrate its bets, limiting its exposure to no more than 15 investments in each country.|
To assist in its research efforts, Northwest recently hired former UBS executive director of equity sales, Nial Gooding, who focused on Greater China while at UBS.
Northwest Investment Management expanded its asset base by 37% in 2010, and 75% of its assets now come from funds of funds, up from 70% in 2007. The hedge fund manager is based in Hong Kong and was founded by George Philips and David Rogers in 1998.