Azentus Up 8%

Apr 23 2013 | 1:15pm ET

Azentus Capital Management's turnaround has extended into 2013.

The hedge fund, founded by former Goldman Sachs proprietary-trading chief Morgan Sze, is up 8% before fees this year, Bloomberg News reports. Hong Kong-based Azentus managed to return 1% last year after spending most of 2012 in the red; in its first year, 2011, it lost 6.8%.

Still, the Asia-focused firm's assets fell to US$1.6 billion; Azentus has managed in excess of US$2 billion.

The firm has also lost one of its six founding partners. Bruce Kirk left Azentus in March, according to a filing with the Hong Kong Securities and Futures Commission. Kirk's departure was amicable, chief operating officer Roger Denby-Jones told Bloomberg.

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