Singapore-based Stewart Asia Investment, a spin-off from
Tudor Investment Corp and one of the most awaited hedge fund
launches in the region this year, recently received its asset
management license from the Monetary Authority of
The approval paves the way for CIO and veteran commodity
trader Andrew McMillan to launch his strategy at the start of
2014. Sources confirmed the grant of the capital markets
services license from MAS and said that the fund will launch
early next year.
The launch is attracting a considerable amount of investor
interest from within and outside Asia.
McMillan’s fund will focus on discretionary
opportunistic trading in different commodity markets including
oil, natural gas, freight, power, metals and soft commodities
and will predominantly trade liquid futures and options.
The group is also understood to be launching a long-only
absolute return equity fund and a systematic macro fund focused
on currencies. The long-only Asia equity fund will be run by
Craig Mitchell, the former senior vice president of Los
Angeles-based The Capital Group Companies.
Before founding Stewart Asia, McMillan was global head of
energy trading at Tudor Group, running a highly profitable
operation which he established for the firm. Prior to Tudor, he
ran Morgan Stanley’s European power and gas and
coal trading from London and also formerly working in
commodities trading at Barclays Capital in London and New York,
as well as in securitisation, and he also worked in treasury at
Citibank in New York and Auckland.