Segantii Recruits From UBS, Rival Hedge Funds as Assets Swell

  • Segantii adds UBS's Asia former block trading head Guttieres
  • It also hired Chen from Eton Park, Chang from Davidson Kempner

Segantii Capital Management recruited three people, including one from UBS AG, as its hedge-fund assets expanded by about 40 percent since August.

The Hong Kong-based firm, whose assets have surged to about $1.7 billion over the past eight months, hired Pascal Guttieres, UBS’s former Asian head of block trading, Kurt Ersoy, Segantii’s chief investment officer, said in an e-mail. Segantii also recruited Joseph Chang, an event-driven trader most recently with Davidson Kempner Capital Management and Stephanie Chen as portfolio risk management analyst from Eton Park Capital Management’s New York office.

Segantii joins the ranks of successful hedge funds such as Balyasny Asset Management and Hutchin Hill Capital stepping up hiring in Asia, anticipating more investment opportunities in volatile markets. They have no dearth of talent to choose from as market turbulence has prompted a shakeout in the hedge fund industry and banks are cutting staff. Units of Nomura Holdings Inc. and JPMorgan Chase & Co. are among those that have cut jobs in the region.

The Segantii Asia-Pacific Equity Multi-strategy Fund, which trades Asian stocks and equity-linked securities with a focus on North Asia, returned 4.2 percent last month for a 0.6 percent first-quarter gain. Simon Sadler, a former trader at Dresdner Kleinwort Benson and Deutsche Bank AG who founded the firm, has made 17 percent on an annualized basis for investors through March. The MSCI Asia-Pacific Index’s annualized return has been flat between the fund’s December 2007 inception and the end of March.

Asia-focused hedge funds lost on average 6.6 percent since May, according to Eurekahege Pte. The industry rebounded in March, advancing an average 3.7 percent in March on a global market rally. That helped to narrow the first-quarter loss to 2 percent, after the worst first start to the year since Singapore-based Eurekahedge started to compile data in 2000.

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