Asia's $90 mln hedge fund Novatera returns capital

HONG KONG Wed May 30, 2012 2:43am EDT

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HONG KONG May 30 (Reuters) - Singapore-based Novatera Capital, which managed about $90 million in a long/short hedge fund betting on small-cap stocks in Asia, has returned capital to investors, the founder said on Wednesday.

Robert Lewis said he finished returning all the money about two weeks ago. He is now teaching a class in value investing and working on some projects that do not involve managing people's money.

The long-biased fund managed peak assets of about $130 million, Lewis, a former JPMorgan executive, told Reuters.

Last year, the hedge fund lost about 16 percent, according to fund performance data seen by Reuters. By comparison, the Eurekahedge Asia long/short equities index dropped 10 percent. (Reporting by Nishant Kumar; Editing by Nick Macfie)

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