AIMA Planning China Chapter

Jan 14 2013 | 2:02am ET

The world's largest country is opening up to hedge funds, and the industry's leading lobby is wasting no time accepting the invitation.

The Alternative Investment Management Association is planning a chapter in China. The group hopes to have applications by the end of the first quarter, Bloomberg News reports.

China this year began to introduce new regulations that will allow a local hedge fund industry to thrive, as well as grant greater access to the country's markets and citizens to foreign hedge funds. So AIMA began work on a China chapter in the third quarter.

"It really is a time that AIMA needs to get a presence in China," Philip Tye, who heads AIMA's Hong Kong chapter, told Bloomberg. "There isn't an official hedge fund industry, but we think one will start to be developed."

The lobby established a group called Friends of AIMA in China, PricewaterhouseCoopers' Florence Yip has been charged with establishing the new chapter. Yip is vice chairman of AIMA Hong Kong.

AIMA is likely to open offices in Beijing and Shanghai, with founding members including both service providers and fund managers. The Hong Kong chapter will be retained, but will focus on managers operating in the special administrative region; its China committee will see its duties taken over by the new chapter.

AIMA's move into China follows that of the Hedge Fund Association, which opened Beijing and Shanghai chapters last year.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note