Sunday, 24 May 2015
Last updated 1 day ago
Sep 26 2011 | 3:08pm ET
Asia-focused hedge funds actually shrank in the first half, but the region still has reason to celebrate.
Some three-quarters of Asia-focused hedge fund assets are now managed from the region, primarily Hong Kong, a new survey from AsiaHedge shows. That's up from about 63% three years ago and about 50% in 2000.
Aradhna Dayal, editor of AsiaHedge, said the growing proportion of Asia-focused money managed from the region shows "an increasingly serious commitment to regional offices by international managers" as well as the growth of local fund managers, among them several giant hedge funds launch in the region by former proprietary traders and veterans of Western hedge funds.
Total assets of Asia-focused hedge funds fell 5% in the first half to US$145 billion, of which US$109 billion was managed locally. Only US$77 billion was managed from the region in 2008.
The growth of the local industry has benefitted one place in particular—exclusively, actually. Hong Kong built on its lead over its regional rivals to cement its place as the New York of the Asia-Pacific region; it was the only city to see an increase in hedge fund assets in the first half, accounting now for 27% of the regional market.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…