Singapore-based private market exchange ADDX has completed a blockchain-based listing of a hedge fund managed by a renowned investor.

ADDX had listed Asia Genesis – an Asia-focused global macro hedge fund – on its exchange, according to a statement. 

The fund trades exclusively in liquid exchange-listed futures and options which allows for monthly redemptions and no lock-in period for the open-ended fund. And by leveraging blockchain and smart contract technology, ADDX was able to reduce the minimum subscription size from $1 million to $20,000. 

JMF

The chief investment officer of Asia Genesis is Chua Soon Hock, the manager behind the $800 million Japan Macro Fund (JMF) which generated 18.7 percent in annualized net returns in the 10-year period from 2000 to 2009. It also grew its asset size by 100 times during this period to become one of Singapore’s largest macro hedge funds.

Chua has 39 years of experience in trading and fund management. Prior to establishing JMF, he was the chief strategist and head of interest rates and arbitrage trading at Sanwa Bank Singapore. Previously, he also worked at Koch Capital Asia as a managing director as well as Bankers Trust, Salomon Brothers, and the Monetary Authority of Singapore. 

In May 2020, Chua launched Asia Genesis. 

2020 to 2030

According to Chua, he launched the new fund after witnessing many «close relatives and friends being adversely affected by risky financial products in a leveraged environment». To further align with investors, Chua and his family have jointly invested more than $40 million of their personal wealth in the fund, which currently has $173 million in assets under management. 

«2020 to 2030 will be unlike any of the past four decades from 1980 to 2020, when the bull markets were sustained and prolonged. We have likely entered a multi-year range market decade with more frequent bear phases,» Chua explained.

«We are experiencing the effects of fundamental changes in the macroeconomic environment, and these are unprecedented times when compared to the past 40 years. This new era is marked by rising uncertainty, geopolitical tensions, supply chain challenges, trade war, military build-up, as well as the cumulative effects of huge money supply trends leading to rising inflationary pressures and interest rates.»