(Reuters) - Hong-Kong based Segantii Capital Management has informed its investors it will return their money, weeks after authorities charged the hedge fund and its founder, Simon Sadler, for insider trading, a spokesperson for the firm said on Thursday.
The development was first reported by the Financial Times.
"We have always believed at Segantii that it is a great responsibility and privilege to professionally manage money -- and we have never taken that lightly," the spokesperson told Reuters.
"We have decided, however, that at this time, it is in the best interests of our investors to return their capital in an orderly manner."
Established in 2007, Segantii is one of Hong Kong's most high-profile hedge funds and one of the oldest and biggest in Asia - with operations in London, New York and Dubai as well, according to its website.
Its flagship Asia-Pacific Equity Multi-Strategy Fund was up 2.5% in the first quarter, after a 1.6% decline in 2023, according to the fund's monthly newsletter, seen by Reuters.
(Reporting by Poonam Behura in Bengaluru; Additional reporting by Summer Zhen; Editing by Pooja Desai)
