According to sources, Castle Investment's $64 billion hedge fund business has increased the number of its Asia-based stock team to over 60 people in just over three years.

Sources say that two portfolio managers, Doris Yang and Jerry Jiang, will join early next year, increasing the number of "individual teams" (pods) in the region to 9. Castle Investment declined to comment in an email statement.

Castle Investment has been expanding its Asia securities investment team to take advantage of the region's capital market growth and talent. This is in stark contrast to the years immediately after the global financial crisis, when the company downsized and other competitors withdrew from the region.

As part of its expansion, the company hired Nick Taylor in 2020, who is now responsible for regional event-driven investments; the following year, Sachin Kewalramani was hired to lead the Asia basic stocks department.

Providing a one-stop service offering a variety of strategies to investors has become one of the leading trends in the global hedge fund industry in recent years.

According to a September 2023 report from Goldman Sachs, from 2017 to last year, 55 multi-manager funds like Castle Investment almost doubled their total assets globally, while at the same time, growth in other areas of the global hedge fund industry remained stagnant.

Castle Investment's main Wellington hedge fund had a return rate of 9.9% from January to August this year, with its tactical trading strategy at 14.5%. The Wellington fund rose 15% last year, outperforming some peers.

Castle Investment is more cautious in recruitment, employing fewer teams in the region compared to Millennium Management, Balyasny Asset Management, and Point72 Asset Management.

Newly hired employees include Kewalramani, former Asia head at Balyasny, and Avinash Abraham, a former employee of Castle Investment. An insider said the company also spends time helping younger new portfolio managers expand their teams and develop their skills.

Four new employees had early careers at FIL Investment Advisors.

Among them, Yang and jiang, who previously served as portfolio managers at Point72, recently left. According to her LinkedIn profile and regulatory data, Yang had previously worked at GLG Partners division of Man Group before Point72. She will focus on Chinese stocks at Castle Investment.

According to his LinkedIn profile, Jiang was an analyst at Millennium and FIL before serving as a portfolio manager at Point72. He will focus on opportunities in the technology, media and communication, and consumer industries.