Singapore's Quantedge Capital Pte, whose 63.1 per cent return this year makes it one of the world's best quant funds, manages over US$2.1 billion and has almost 70 staff and more than 600 clients. It's not just minnows that are taking risks. He's been taking steps to reduce volatility, to 40 per cent, while still aiming to generate growth in excess of 30 per cent a year. Vanda's annualized returns are 39 per cent and Chong now manages US$222 million. "I only have two eyes, right, so how many screens can I look at?"Įven though his fund's annualized volatility is a whopping 72 per cent - it returned 260 per cent in 2017 only to plunge 49 per cent the following year - early backers have remained loyal. "If you spend too much money in terms of infrastructure and rent, it'll eat into your returns," Chong said in an interview in a nearby cafe. While some quants have supercomputers, his model is built on an Excel spreadsheet that crunches data supplied by a Bloomberg terminal. Chong, 46, trades from a plain desk in his home office with a laptop and an extra monitor. His storied rivals would have teams of portfolio managers, squads of analysts and a small army of interns. "There's a lot of money coming in - money that's willing to take more risks," said Johan Sulaeman, who teaches finance and investing at the NUS Business School in Singapore.Ĭhong's Vanda is a poster child of this phenomenon.
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