US investors scupper Martin Currie China tie-up

Martin Currie has lost the planned US partner for its own China hedge fund, which has recently moved to a long-only position while buying stocks depressed by the severe acute respiratory syndrome (Sars) outbreak.

Martin Currie's China hedge fund managed by Shanghai-based Chris Ruffle was to be linked to a US China hedge fund called Jayhawk, run by Kent McCarthy, who was expected to help Ruffle manage the fund's short book.

Both funds were to feed into a single China master fund. But McCarthy said

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