Diego Parrilla, former Asian commodities head at Bank of America Merrill Lynch, has started a hedge fund in Singapore, Bloomberg reports. The NARECO Commodity Low Vol Alpha fund will invest in raw material derivatives. The fund, which will start trading in the fourth quarter, is seeking to raise $500 million. Parrilla’s NARECO Advisors is also planning to appoint two more people for trading and analysis in addition to its three-person team.

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