Local hedge fund delivers attractive returns in first month of launch

Local hedge fund delivers attractive returns in first month of launch

Cross-Asset Strategic Alpha Fund (CASAF), the first local wholesale hedge fund with a long-short investment strategy, delivered an attractive return of 8.17% for the first month after its launch on Sept 30.

The fund,  which invests in multi-asset classes, is managed by Cross Light Capital Sdn Bhd, a boutique asset management firm located in Menara Ilham in Kuala Lumpur. The firm was licensed by the Securities Commission Malaysia in November last year to provide private mandate services to sophisticated investors.

As at Oct 31, the fund’s highest exposure was to the absolute return strategy — or the long-short investment strategy, which aims to profit from the ups and downs of markets — followed by private equity replication and precious metals.


“In October, our absolute return strategy delivered positive gross returns of 1.96%. Our cross-asset, long-short strategies with exposure to equity volatility gained 2.21% gross returns for the month while digital asset exposure added 1.1% gross returns,” says Jason Lee, co-founder of Cross Light Capital. Prior to setting up the firm, he was a hedge fund manager for more than 15 years in the UK.


Lee adds that the fund’s long exposure to longer-duration US fixed income and global equities added another 1.02% and 0.85% in gross returns to the fund.

CASAF is distributed by Bill Morrisons Wealth Management Sdn Bhd, a financial planning and wealth management firm. “The fund is unique given its high target returns of 30% per annum with a relatively low correlation to equities. Many of our clients will benefit from these types of funds, especially those looking to diversify their investment portfolios from conventional long-only equity funds,” says Bill Morrisons managing director Billy Hii.


As at Nov 11, CASAF had assets under management of about US$5 million (RM21 million), says Lee.


The fund has a minimum investment amount of US$100,000 and a minimum additional investment amount of US$10,000. It has a sales charge of 5%, an annual management fee of 2% and a 20% high water mark performance fee.


CASAF’s investors are also subject to a withdrawal fee of 3% if they draw out their money in the first year. The withdrawal fee is reduced by 1% in each of the following years, and exempted from the third year onwards.


According to its product highlights sheet, the fund is classified as a mixed-asset growth fund suitable for sophisticated investors with an extremely high risk tolerance and a medium- to long-term investment horizon.

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Billy Hii

Managing Director

About Billy Hii


Visionary , Industry expert, Passionate & committed

Billy Hii, managing director of Bill Morrisons Group, believes the wealth management industry in Asia is ripe for transformation. High net worth individuals from across ASEAN and Asia have become more knowledgeable and more demanding about wealth management services as a result of education, networks and exposure to these financial instruments. 

With his experience gained from international banks and financial institutions, Billy aims to differentiate Bill Morrisons in wealth management segment by establishing an elevated standard of service and expertise. He wants to gear up his team of financial advisors to become well versed, highly knowledgeable and very customer-focused so that they can deliver a standard of service comparable to bespoke private wealth management, to its ASEAN and Asian HNWI and family offices. 

Bill Morrisons’ financial advisors must ensure that not only their skillsets are constantly renewed and improved, in line with market changes and developments, but they must also match the capabilities of seasoned private bankers or wealth managers. This will provide them better platforms to serve their clients with world-class service, knowledge and relationships.

Billy has a Bachelor of Science degree from National University of Singapore in 2000. 

“We are going to reinvent the wealth management industry.”


Kenny Suen

Principal Officer & Chief Marketing Officer

About Kenny Suen


Energetic, Ideas man, Driven & Hungry

Markets awareness and products savviness reflect Kenny Suen’s expertise as he leads the marketing function at Bill Morrisons Group.

With a career spanning more than 25 years as a banking and financial services professional, Kenny understands the evolving landscape of various financial solutions, their relevance and their suitability to each of its clients. Kenny is able to design and deliver unique suites of financial solutions to help clients maximize and protect their portfolio. 

As a seasoned financial services professional, Kenny is familiar with the wealth management industry and has developed strong relationships with financial institutions in Malaysia and abroad. Kenny is well-suited to select, train and equip candidates with the right skills and expertise to become the leading financial advisory consultants across the region.

Kenny has an MBA from Herriot-Watt Business School and graduated from RMIT University, Australia in 1996 with a Degree in Economics & Finance. Kenny holds a CFP and Syariah RFP and is also a Labuan FSA-licensed insurance broker.

“Building wealth is not just a one man’s job. It requires a capable team of different stakeholders working together in trust and confidence to build long term, sustainable and meaningful relationships that they can see and appreciate the value you have created for them.”


Idi Irwan Zainal Abidin

Executive Director

About Idi Irwan


Performance Improvement , Transformation Catalyst

As Executive Director,Idi Zainal Abidin develops strategies and campaigns to help Bill Morrisons’ clients achieve their financial ambition. As Executive Director, Idi brings on board the expertise, insights and analysis from various global and regional fund managers and investment houses. He also guides the development of organizational processes and risk-mitigation measures to maintain operational and financial security of Bill Morrisons. 

Idi lends his expertise as a qualified Certified Financial Planner and Syariah-Registered Financial Planner to enable clients and customers into various financial and investment instruments that suit their needs.

Idi graduated from Institut Teknologi MARA in 1997. He also graduated from a risk management executive program, under a collaboration between Munich Re Insurance and Georgia State University in 2009, specializing in risk management and insurance. He has 24 years experience as a financial services professional.

“Our ambition is to create awareness and momentum in the wealth management industry so that clients become more informed and knowledgeable about how they could protect, preserve and extend their assets for current and future generations. We want to anchor this industry with professional advisors so that the focus and commitment is directed towards the interests of our stakeholders at all times.”

-Idi Irwan Zainal Abidin, Executive Director