Following the news that AXA Rosenberg is withdrawing its sponsorship of the AXA Asian Absolute Fund, Alexander has sent out the fund's last investment note. However, in the note Alexander says he still wants to continue to manage the fund, alongside his analyst Cecilia Mak, and is seeking new investors.

AXA Rosenberg's withdrawal has been prompted by a change in focus towards quantitative asset management and as it has been known for some time that Alexander’s investment style does not match the Rosenberg model, the parting of ways was amicable.

The hedge fund was launched 14 months ago, with Alexander and Mak brought to the then AXA Investment Managers to manage it. In his Ad Hoc Investment Note Alexander admits mistakes have been made, but says the fund's performance has often been in the top quartile. He notes that the most common constructive criticism feedback they have had is "great idea, need to improve implementation". These implementation issues have now been addressed he says, "All we need now is the right new partner."

Alexander praises both Mak, who he has worked with for the past three yeas, and their partnership. "Irrespective of my own capabilities I can assure you Cecilia is one of the best analysts in Asia and the most loyal of partners. No matter what happens I will never be convinced that our Chinese female/Caucasian male team can be bettered to manage an Asian hedge fund."

Exactly when AXA Rosenberg will withdraw its money, is not known. But Alexander and Mak are no longer working from the AXA Rosenberg office.

"We wish to remain in Hong Kong, but we need a new partner to provide office space, independent compliance and support. We will not continue unless we can do so in a fashion that allows us to focus, unrestricted and independently, on managing the Fund," Alexander says.

He gives their current top 10 investment ideas, one for each million he needs. These include his ideas on China, inflation, oil, insurance companies and pension funds. There is no number 10 though. He points out that, "If you are not sure do nothing. You can win by not losing."