Michael McManus is joining Kima Capital as the hedge fund manager’s new chief financial officer. He had been an accountant in a small local practice working on the Kima Capital account before being lured across the service-provider divide. He reports to the firm’s CEO Michael Gallagher.
Kima Capital was founded by chief investment officer Justin Klintberg who, before starting the firm, worked on the investment side for Marble Bar Asset Management in Melbourne.
The Kima Pan Asia fund was established in mid-2009 and has a pan-Asia long/short orientation. It has three strategies: event-driven, arbitrage of stocks listed in multiple markets, and IPOs/blocks. The fund is up 20.25% since inception and 2.62% in September 2010.
The size of the fund now stands at $37 million and a further $14 million is expected at the beginning of November. Gross exposure limits are 150% and the net exposure limit is 50%. The fund runs about 20-30 positions on average and the single-name maximum loss is 70 basis points.
Kima has signed an agreement with Hedge Fund Operations, a firm that was recently spun out of Arnott Capital into a standalone business, to carry out all of Kima’s middle- and back-office operations.
Kima has also signed up with Citco to perform the role of fund administrator. Imagine has been hired to provide portfolio management tools.