Fewer Asian Hedge Funds Launch In First Half

Aug 10 2011 | 11:51am ET

With investors flocking to established managers, Asian hedge fund launches fell precipitously in the first half.

Only 60 new hedge funds opened their doors in the region during 2011's first six months, according to Eurekahedge and Bloomberg News. That's down 38% from the 96 funds which debuted in the first half of last year and 9% from the 66 funds that launched in the second half.

There may be fewer new Asian hedge funds, but those getting off the ground have been impressive, thanks to the blue-chip reputations of their founders. In June, Deutsche Bank prime brokerage executive Barry Bausano predicted that five Asian hedge funds would raise at least US$1 billion this year. One, former Goldman Sachs proprietary trader Morgan Sze's Azentus Capital, already manages nearly $2 billion. Another, Hong Kong-based Principia Capital Advisors, expects to raise US$750 million this summer while former Nomura Holdings prop. trader Benjamin Fuchs' B.A.F. Capital Management is eyeing US$400 million for his debut, later this year.

Separately, Hedge Fund Research said that investors poured US$2.6 billion into Asia-focused hedge funds during the second quarter. The inflow pushed total Asia hedge fund assets up to almost US$90 billion.


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