Two Pan-Asia Hedge Funds Take Flight

May 18 2010 | 11:11am ET

No region offers a brighter future for hedge funds than Asia-Pacific, and two new funds aim to take advantage of the opportunities available—and the investors clamoring for them.

Hong Kong-based Chater Capital Advisors last month launched its maiden fund, which focuses on mergers and acquisitions, restructuring and reorganization, liquidity crunches and bankruptcies, and major asset sales, in the region, including Japan and Australia. The fund invests only in liquid instruments—no private deals—and has relatively low hard limits on net exposure, according to the firm.

The Chater Asia-Pacific Event-Driven Fund is managed by Kevin Chan, who previously headed Scoggin Capital Management’s Asia-Pacific efforts from Hong Kong.

Falcon Capital has also launched a Pan-Asia hedge fund. The Melbourne, Australia-based firm’s Sixtina Falcon Fund is a long/short Asian equities vehicle; it debuted in February with US$15 million in assets.

According to Falcon, the fund’s portfolio is comprised of listed equities in Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand. The fund will also invest in U.S.-listed stocks “where trade ideas might be generated from an Asian-American perspective.”

The firm was founded by David Hamilton, a formerly of ANZ Private Bank and UBS Wealth Management.

According to estimates by Singapore-based Eurekahedge, Asia-focused hedge fund projected assets under management will rise from $105 billion at the end of 2009 to at least $182 billion by the end of 2012. In the near term, a Deutsche Bank survey conducted in March showed that 45% of investors plan to raise allocations to Asia (ex-Japan) funds, compared with 18% in 2009.

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