Punit Kaji, a Singapore-based fund manager who joined BlueCrest Capital Management as a Senior Portfolio Manager in September last year, is returning to his previous employer Dymon Asia, according to a report by eFinancial Careers.

BlueCrest, the hedge fund-turned-family office of Mike Platt, is known for its lucrative compensation structure, which offers portfolio managers 30% of their profit and loss (P&L). However, this payout is distributed over three years and can be clawed back if the manager incurs losses.

Before joining BlueCrest, Kaji spent nearly four years as a Portfolio Manager at Dymon Asia, one of Singapore's largest hedge fund firms, following a nine-year stint at Standard Chartered, where he served as the head of FX cash trading for Singapore. His exit from BlueCrest comes amid other notable departures from the firm, particularly within its commodities team.

It’s unclear whether Kaji’s pod at BlueCrest was closed, or if his departure was due to other factors. Neither Dymon Asia nor Kaji responded to requests for comment regarding his return.