Cambridge draws senior PM from Red Centre

London hedge fund The Cambridge Strategy has appointed a senior portfolio manager from an Australian alternatives fund to open its Asian desk.

Formerly with local hedge fund Red Centre Capital, Alexandra Edstein joined Cambridge last week and will open the currency manager’s Hong Kong office early next year. Before managing the currency investments of the Red Centre Asian Macro Fund, Edstein worked with Russell Thompson, the chief investment officer of Cambridge, at the HSBC trading desk in Hong Kong, in roles including senior proprietary trader overseeing Asian currencies and the G10 foreign exchange and interest rate markets. Cambridge runs independent technical and fundamental strategies to conduct pair trades among currencies for its two products, an extended markets fund that invests in the currencies of markets across most continents, and an Asian markets fund. Edward Baker, the executive chair of Cambridge, said investment opportunities in currency markets were generally short-term: “It’s hard to make a long-term macro bet and consistently make money. The best way to get opportunities is to look for systematic irregularities.” Commenting on Edstein’s appointment, Baker said it was important to employ a person with regional experience and a working history with senior management who could work independently and not become detached while opening an office away from the London base. Earlier this month, an Australian industry super fund awarded a $200 million alpha mandate to Cambridge. Baker was formerly the CIO of the emerging markets business of AllianceBernstein. Peter Henricks, CEO of Cambridge, was previously the regional CEO of AllianceBernstein in Aisa.