A hedge fund manager who used to work in Bermuda as a reinsurance actuary is finding great success in his new career in Singapore.Leow Kah Shin, a former employee of Max Capital (now known as Alterra Capital Holdings), now runs Quantedge Capital, which aims to more than double the size of its hedge fund after it outperformed other global macro strategies last year.The 31-year-old ultramarathon runner co-founded Quantedge with Chua Choong Tze, 31, who holds a PhD in statistics from the University of Pennsylvania's Wharton School of Business in Philadelphia and teaches a course on portfolio management at Singapore Management University. They started by managing their own money and for families and friends.In an interview with Bloomberg News, Mr Leow said Quantedge plans to grow its quantitative global macro fund to $200 million by the end of the year, from about $75 million as of December 30.The Quantedge Global Fund rose about 80 percent in 2010, its best year since inception in October 2006, Mr Leow said. The fund returned 67 percent in the 12 months ended November 30, the best-performing macro strategy, according to data compiled by Bloomberg.Global macro funds gained, on average, 3.1 percent during the same period, according to Chicago-based Hedge Fund Research Inc.Quantedge is seeking to attract investors such as wealthy individuals, family offices, sovereign funds and some types of fund of funds that “understand the need to accept short-term volatility in exchange for strong long-term capital growth”, Mr Leow said.“Most market players are afraid of short-term volatility and are willing to pay a premium to avoid it,” Mr Leow said. “We love to take on such trades because they make sense theoretically and empirically, and we have the mandate from investors to hold on to them throughout short-term turbulence in order to earn long-term profits.”The fund's best month last year was in September, when it gained 19.5 percent, and its worst was in November, when it lost 7.2 percent, he said.