Segantii fund's 41 pct gain lifts AUM to $550 mln

HONG KONG, April 2 Mon Apr 2, 2012 12:46am EDT

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HONG KONG, April 2 (Reuters) - Segantii Asia-Pacific Equity Multi-Strategy Fund has more than doubled assets since mid-2011 to $550 million, defying a tough capital-raising environment and net outflows from Asian hedge funds during the period.

The growth was powered by 41 percent gain in the fund run by Hong Kong-based Segantii Capital Management, one of the best by a hedge fund in the region last year, when peers as measured by the Eurekahedge Asia index lost an average 8.4 percent.

The fund, launched in 2007 by former head of Asian equity trading for HSBC Securities Simon Sadler, was down 2 percent in the first two month of 2012, according to an investor newsletter seen by Reuters. It recovered in March to bring the year-to-date gain to about 0.3 percent.

Segantii, which breaks into a small group of hedge funds managing more than $500 million in the region, is expanding its team to 20 people from 16 now and has hired former Credit Suisse executive Kirtes Bharti as head of financing.

Segantii Chief Executive Kurt Ersoy confirmed the year-to-date gains, the fund gathering $550 million and appointment of Bharti.

Ersoy, who earlier worked for Credit Suisse, declined to comment further, citing company policy. (Reporting by Nishant Kumar; Editing by Chris Lewis)

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