Macquarie Funds Management has recruited two former DLJ/CSFB quant specialists to bolster its Hong Kong enhanced equities index team.
Indaka (Indy) Nanayakkara has joined as head of enhanced equities Asia to manage the Hong Kong Enhanced Equities Fund and to tweak the techniques used by the team. While initially his work will focus on strengthening the Hong Kong product, the aim is to have a global capacity within two years.
"We will develop a capacity for the Asia-Pacific region," he says, noting the firm now runs the Hong Kong Enhanced Equities Fund based on the Hang Seng Index for a local institutional client and must develop a range of products to suit other potential clients around the region. "We need to test other strategies," he says. This will be done in stages, using Macquarie's Australian base, as well as the London and Hong Kong offices.
Nanayakkara has nine years of quant experience. He began on the sell side at Jardine Fleming (now JPMorgan) as a fundamental analyst, then moved into quant research on regional small-cap stocks. He stayed in the quantitative area when he moved to Donaldson, Lufkin and Jenrette, which was then acquired by CSFB.
At Macquarie, he replaces Stuart Turner, senior portfolio manager, who had returned to Sydney last summer. He reports to Patrick Hodgens, global head of enhanced equities in Sydney. Nanayakkara also works with Philip Dolan, also based in Sydney, who heads institutional sales and marketing, to call on clients around Asia. Macquarie began its enhanced equities business in Australia in the mid-1990s, and now manages over $2 billion in enhanced equities globally.
Moving with Nanayakkara is Veronica Ho, quantitative research analyst. She is responsible for research, development and the implementation of investment strategies, optimization and portfolio analysis for Asia. Like Nanayakkara, Ho had worked at CSFB, and before that she taught financial management at the Chinese University of Hong Kong.
Both Nanayakkara and Ho join the team's existing member in Hong Kong, Derek Mak, assistant portfolio manager. He runs the trading process and risk management systems, and will assist in research and development.
