Photo: Bloomberg

Singapore-based hedge fund Quantedge Capital plans to ease some restrictions on client redemptions, giving investors a chance to draw profits after recording gains of 18.6% in the first five months.

In a model similar to one offered by Millennium Management last year, clients signing up to a new planned share class will be able to withdraw 5% per quarter, relaxing previous restrictions that kept most investors locked up for three or five years, according to CEO Suhaimi Zainul-Abidin. Assets under management have surpassed US$3 billion ($3.98 billion) for the first time as resurgent commodity and equity markets delivered gains this year, he said in an interview.

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