Solaris's Sun Starts Technology Hedge Fund Focused on Asiaby
Sun was previously head of Asia technology at Och-Ziff
Bullish on solar stocks, wind suppliers and fingerprint tech
Joseph Sun, the former head of Asia technology investments at Och-Ziff Capital Management Group LLC before starting his own firm six years ago, has opened a long-short hedge fund focused on technology, media and telecommunication companies.
Hong Kong-based Solaris Capital Advisors Ltd. focuses on stocks that make a "significant" portion of their revenues from Asia, Sun said in an instant message. The Solaris Global Alpha fund, which opened to institutional investors in May after Sun traded the strategy for six years as a private investment pool for friends and family, has a capacity of $200 million, he said.
Before starting Solaris, Sun managed a pool of $200 million in Och-Ziff’s OZ Asia Master Fund until December 2009. Prior to joining Daniel Och’s $44 billion firm in 2008, Sun was a senior analyst at Kingdon Capital covering global and China-focused technology companies in New York for three years, he said.
In August, Solaris hired Jimmy Wongas an executive director and senior analyst focusing on technology companies in Greater China, Sun said. Wong was previously a Hong Kong-based director at CIMB Group Holdings Bhd and before that held analyst jobs at Citigroup Inc., UBS AG and JPMorgan Chase & Co., according to his LinkedIn profile. As Solaris’s assets grow, the firm will hire another technology analyst, Sun said.
The fund is bullish on biometric recognition companies as the use of fingerprint security is set to grow beyond smartphones to computers and personal banking, he said. It owns shares in Fingerprint Cards AB, an electronic fingerprint technology developer, as a result of this view. Solaris is bearish on shares of commodity semiconductors and smartphone vendors, Sun said, citing an over-crowded market. He declined to name specific companies he is wagering against.
Solaris also owns shares of manufacturing companies that supply alternative energy producers, Sun said. It owns Gigasolar Materials Corp., a manufacturer of solar conductive paste to provide solar energy, GCL-Poly Energy Holdings Ltd., a Chinese solar grade polysilicon producer, and Yeong Guan Energy Group Co., which manufactures graphite cash iron and gray iron casting products mainly used as the hubs and bases of wind turbines, he said.