Tuesday, 5 May 2015
Last updated 9 hours ago
Mar 5 2013 | 10:12am ET
Asian funds of hedge funds lost more than half of their assets last year, a precipitous drop as institutional investors continue to move towards direct hedge fund investments at their expense.
Asian funds of funds managed just US$16 billion at the end of last year. They managed US$34 billion at the end of 2011, Preqin reports.
“Asia-Pacific-based fund of hedge funds have seen a larger proportion of outflows in 2012 and this can partly be attributed to their below-expected performance in 2011,” Ross Ford, manager of hedge fund profiles at Preqin, told Asian Investor. “Investors who are looking to maintain their current allocation to fund of hedge funds are also shifting away from smaller boutique Asia-Pacific-based hedge funds.”
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…