Hong Kong-based Asian multi-strategy fund Azentus Capital
Partners is understood to have delivered a robust 9% gain in
the first seven months of this year.
The fund is now at $1.0 billion in assets under management,
as a result of the earlier redemptions that followed two years
of relatively lacklustre returns.
The strategy, which is run by former Goldman Sachs star
trader Morgan Sze, was the biggest hedge fund start-up to
launch in 2011 – raising as much as $1.9 billion of
assets in its first year.
It laboured in a difficult trading environment for much of
its first two years as a result of the risk on/risk off mood in
the market, posting a loss in 2011 and a marginal 1.0% gain
This year, however, the Azentus returns compare very
favourably with those of other Asia-focused multi-strategy
funds that are listed in the AsiaHedge database.
The $1.24 billion LIM Asia Multi-Strategy Fund, for example,
is up 4.97% during January and July – on top of the
3.57% return it generated last year. Segantii Asia-Pacific
Equity Multi-Strategy Fund, run by Simon Sandler, is up 2.2% so
far this year after making a 4.8% return last year.