Barry Colvin, vice chairman, said the hedge fund hopes to hire between two and four managers to eventually increase its investments in Asia.

“It's much more opportunity-driven,” he said. “The idea is that we have a pretty broad net we have cast looking for portfolio managers that have historically been successful in managing a book in the style of Bam and all our current portfolio managers. There’s a common thread that runs across our portfolio managers: very little market direction, a neutral book, a liquid book and a very good combination of fundamental analysis and trading acumen,” said Colvin.

Hong Kong is growing in its importance as a trading centre and managers increasingly see it as a gateway to the Chinese market. At the end of January, authorities in China took its first steps to open the market place to margin and short-selling. Initially on a temporary basis, the move is expected to encourage a host of hedge funds into the region.

Bam opened its Hong Kong office in the summer of 2008, it is comprised of seven staff, including two portfolio managers, a trader, compliance officer and operations/administration staff.