SINGAPORE (Dec 16): On most mornings, Chong Chin Eai starts his day with a jog through Singapore’s Botanic Gardens. After taking his son to school, he trades futures on his laptop at home until it’s time for lunch, after which he might have a massage or perhaps a nap.
If that sounds snoozy, Chong’s returns are anything but. His Vanda Global Fund Ltd., started with US$24 million ($32.5 million) from friends and family and named after Singapore’s national orchid, is the world’s best-performing hedge fund this year, gaining more than 300%.
Singapore is far from the skyscrapers of New York and The City of London, yet somehow it’s producing hedge funds that are trouncing global rivals. The city-state is home to two of the top 10 in 2019, and a third is partly based in the island nation. In all of the U.S., there are only four, and zero in Europe or Hong Kong.
