Saka Capital, the Singapore-based credit hedge fund manager, has announced the appointment of Carne Global Financial Services to provide the Saka Capital Liquid Credit Fund with directorship services.

Peter Heaps, Managing Director of Carne Cayman Islands, has been appointed non-executive director on the board of the fund. Peter is a member of Carne’s independent directorship panel, which was launched in November 2007 and now supplies directors in Cayman, Dublin, Luxemburg, Switzerland and Dubai. Non-executive, independent directors provided by Carne Global are highly qualified and ideally placed to discharge such fiduciary responsibilities.

The Saka Capital Liquid Credit Fund, a Cayman Islands fund, seeks to take advantage of trading opportunities in credit markets with a geographic focus in Asia. The fund utilises corporate bonds and derivatives, convertible debt, credit indices and options with a focus on assets that are liquid.

The fund registered a return of 3.12% net of all fees and costs in January 2010. It has a master fund available to US investors and a feeder fund available to non-US investors.

Assan Din, Chief Executive and Chief Investment Officer of Saka Capital, commented: “We recognise the importance of having robust corporate governance systems in place while delivering strong performance for our investors. Both are now essential in today’s competitive landscape. Carne is a well-known advisor in this field and is closely aligned with our objectives for satisfying investors’ requirements.”

Peter Heaps, Managing Director of Carne Cayman Islands, added: “We are delighted to be working with Saka Capital. Excellence in corporate governance is one of the cornerstones of our business. Independent oversight of an investment fund's activities is critical to ensure that it is managed in the best interests of investors.”