KGR Capital has gained authorisation for KGR Capital (Europe) Ltd from the UK Financial Services Authority.
KGR Capital launched its first specialist Asian fund of funds, the KGR Capital Asia Pacific Absolute Return Fund, in August 2003. Since then it has given initial investors a 9.2% annualized return in US dollars, with a volatility of 4.84%. Last November, KGR Absolute Return PCC Ltd, a Guernsey-domiciled, closed end company was listed on the London Stock Exchange. It targets a somewhat higher return with a commensurate level of risk and is hedged into sterling.
"This authorisation will enable us to provide better and more responsive support to our growing number of European based institutional investors,' says Mark White, formerly international institutional head for JPMorgan Fleming and now Chief Executive of KGR Capital (Europe) Ltd. 'We now have two Cayman based funds for international clients and a listed vehicle, appropriate for UK taxpayers. We are seeing increasing levels of interest from investors who wish to moderate their risks while investing in the vibrant economies of the Asia Pacific region, through the application of our established research and risk management expertise."
Funds under advice by the firm have more than doubled over the last year and currently amount to approximately USD 340m. In response to this, the firm has been adding additional headcount in investor relations, fund research, accounting, operations and IT. The total now stands at 14:8 in Hong Kong and 6 in London.
Background notes: KGR Capital is one of the leading specialists in Asian hedge funds, and is headquartered in Hong Kong. The company was formed in 2002 by John Knox, Nick George and Christopher Rampton, all of whom worked together for many years in Asia in senior roles at Jardine Fleming and JPMorgan. KGR Capital (Hong Kong) Ltd remains regulated as an Investment Adviser by the Hong Kong Securities and Futures Commission