Martin Currie China Managers Ready First Hedge Fund

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.

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