Former head of Asian commodities at Bank of America Merrill Lynch, Diego Parilla, has launched his own commodity hedge fund with a view PARA_BREAK_SENTINEL_9f8e7d6c

Former head of Asian commodities at Bank of America Merrill Lynch, Diego Parilla, has launched his own commodity hedge fund with a view to commence trading in Q4 reported Bloomberg. The Singapore-based NARECO Commodity Low Vol Alpha fund will not invest in equities or physical markets but rather raw material derivatives said CIO Parilla who hopes to raise USD500million for the fund over three years. Parilla will initially look to trade by exploiting price differentials between commodities, explaining: “Initially I’m focusing on a relative-value, market-neutral type of fund as there’s a gap in the market.” Parilla plans to add to his three-man team by hiring two people for trading and analysis.