There is much that seems a little improbable about MYM Capital. It is the product of an unlikely link-up between Paris-based asset manager Matignon Investissement, Yu Ming – a Hong Kong-listed investment firm controlled by the scion of one of the founders of the Sun Hung Kai empire – and Fabrice Jacob, a French ex-investment banker turned local Hong Kong fund manager. That means that MYM is far from being an average asset manager. Even its portfolios make strange bedfellows.
Jacob has spent many years running a tiny equity fund investing in smaller Chinese and China-focused companies. He has done rather well: the fund was up 65% in 2003.
"It's extremely volatile," says Jacob, "but we're consistently outperforming our benchmark by 20% per annum."
Running a small China fund in Hong Kong may make the blood course a little faster when the market leaps about but it is not the...
