(Bloomberg) -- Simon Sadler’s Segantii Capital Management, which abruptly decided to return capital to investors on Thursday amid an insider trading charge, can liquidate the vast majority of its bets within five trading days.

The Segantii Asia-Pacific Equity Multi-Strategy Fund, with $4.77 billion of assets under management, can wind down 84% of its portfolio within a day, according to an investor update for April seen by Bloomberg. As much as 97% can be liquidated within five days. 

Investors pay close attention to liquidity profile of their hedge funds to avoid getting stuck in hard-to-sell assets. Segantii, best known for its relative value and capital markets trades, manages a hedge fund that focuses on Asia-Pacific equities and equity-linked securities but can also trade globally.  

Segantii’s top holding of US securities at the end of March was a $395 million bearish wager on an exchange-traded fund linked to the Nasdaq 100 index.

Read More: Segantii Had a $395 Million Bearish Wager on Nasdaq-Linked ETF

Hong Kong’s Securities and Futures Commission this month charged the firm, one of its former traders and Sadler with insider trading tied to a block trade in 2017. Segantii said on Thursday that there is a risk that the legal action may adversely impact the company’s ability to implement its investment strategy effectively, according to a notice to investors seen by Bloomberg.

“Segantii intends to defend itself vigorously against the charge,” the company said earlier this month. 

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