Chris Ruffle, who co-managed the best emerging market hedge fund last year according to Hedge Funds Review, plans a new China offering after he parted company with Martin Currie Ltd. today following an investigation into a conflict of interest.
Martin Currie Investment Management Ltd., an Edinburgh-based fund management group, was fined about $14 million by finance regulators in the U.S. and U.K. for manipulating a client to aid a hedge fund the firm managed.
Alan Porter, who runs two global growth and income stock funds for Edinburgh-based Martin Currie Investment Management Ltd., has been looking to U.S. companies such as AT&T Inc. and Pfizer Inc. to provide dividend growth.
Martin Currie Investment Management Ltd., an Edinburgh-based fund manager, posted a loss last year for the first time since it was founded in 1881 after clients withdrew money amid misconduct at a China fund.
Martin Currie Ltd. and AMP Capital Investors said stock-index futures will let them hedge in China and more effectively compete with local fund managers as the nation prepares to open the market to foreign institutions.
Chinese property stocks, the nation’s worst performers this year, are becoming “more attractive” after government curbs on bank lending drove valuations to a year-low and made interest rate increases less likely, Martin Currie said.