Thursday, 31 July 2014
Last updated 2 hours ago
Feb 17 2012 | 3:28am ET
Two Martin Currie Investment Management veterans are set to launch their China-focused hedge fund next month.
Chris Ruffle and Ke Shifeng will begin trading Open Door Capital Group's maiden hedge fund in March with about US$75 million in initial assets, HFMWeek reports. The new fund will be a fundamentally-driven long-hedged vehicle, focusing on entrepreneurial countries.
"The benefits of running a hedge fund in China are the inefficient markets," Ruffle told HFM. "We have a large team on the ground to support them."
Open Door plans to soft-close the China Absolute Return Fund at US$250 million. In addition to its Shanghai-based team, the firm has an office in San Francisco to house its trading, legal and compliance operations.
Ruffle and Shifeng left Martin Currie last year, after buying out a China joint-venture the two ran with the company for five years. Ruffle left slightly earlier than expected, after Martin Currie determined that Ruffle had a conflict of interest.
China Absolute charges 1.5% for management and 15% for performance—investors in the founder's share class get discounted fees of 1.25% and 12.5%—with a $1 million minimum investment requirement. The fund features monthly liquidity with 90 days' notice.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…