(Bloomberg) -- Alphadyne Asset Management, a New York-based hedge-fund manager overseeing $4.8 billion in assets, will separate its Asia team into a new firm, said a person with knowledge of the matter.

Bart Broadman, a co-founder of Alphadyne and chief investment officer of its Asia strategy, will be CIO of the new Singapore-based firm, said the person, who asked not to be identified as the information hasn't been publicly disclosed. The transition will begin in the first half of 2017 and the new firm will retain its current investment focus on economic trends in Asia by trading in areas such as interest rates and foreign exchange, the person said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.