SYW`s combination L/S macro fund launches offshore as fund

Barrons Hedge Fund tracking showed June 2008 to be another banner month for SYW LP’s long/short fund with Barrons reporting SYW at a +18.4% gain for the month, a+93.4% gain for YTD, and a+203.5% gain year over year. The New York-based fund, led by Principals Chris Wang and Andrew Lee was established in September 2006 and currently manages approximately $50m in assets. Opalesque recently had an opportunity to speak with Lee about the fund’s combination strategy and the team’s outlook for the future of two industries in the markets.

The strategy
A long/short fund, SYW overlays its equities analysis with a top down view in determining developing themes and trends in the market (ie, subprime crisis, commodities demand increases, transportation demands, etc). “We look for industries which we can leverage positively or negatively to these structural changes or trends in the market,” Lee explained.

The Fund, which at $50m in assets is extremely diversified, currently investing in 95 companies in its portfolio. Lee and Wang believe that the strategy, spread across 32 industries in 15 sectors has enormous scalability potential in its current state. The numerous positions give SYW the ability to stay extremely nimble, a strength they project will stay intact even at 15 to 20 times their current size. “We have been able to be early in recognizing many trends including the multiple mini-cycles in the market of the past few years, where we needed to be very flexible in regards to net exposure.”

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SYW`s combination L/S macro fund launches offshore