Singapore-based hedge fund Southern Ridges Capital, kicked off 2024 with high hopes, expanding its team by adding several new portfolio managers, but has now seen a wave of senior departures following a 3% loss in just three days in early August, according to a report by eFinancial Careers.

The firm, which was founded in 2019 by former BlueCrest portfolio manager Mohit Khurana, has not responded to multiple requests for comment on the recent changes, but records suggest that at least six portfolio managers have left since August — either voluntarily or otherwise.

Notable exits include Senior Macro Portfolio Managers Shihao Fu and Jonathan Chew, who both departed in late August, according to regulatory filings. Their departures were followed by four more – Binoy John, Amit Kesarwani, Jonghyuk Kim, and Divya Devesh, all of whom left the firm in late September.

John, who joined Southern Ridges from Nomura in 2019, was among the first recruits. Kesarwani also came from Nomura, while Kim joined from BlueCrest, and Devesh arrived from Standard Chartered — all in late 2023.

It remains unclear if these portfolio managers have joined other funds or if they are taking time off following the setbacks at Southern Ridges.