Hedge Funds Asia Allocations
Asia May Make Up as Much as 1/5 Hedge Fund AllocationsAccording to an executive at Bank of America's Merill Lynch unit, Asia is expected to assume as much as 20% of the total global inflows for hedge funds this year.
"Asia is still underrepresented in global hedge fund allocations," James Fallon, director, financing sales at BofA Merrill Lynch, told the Reuters Private Equity and Hedge Funds Summit.
Asia accounts for under 10 percent of total global hedge fund assets at present. But hedge funds in the region rose nearly 40 percent in 2009, far outstripping the growth in their U.S. and European counterparts.
"Last year this time there was very little money coming in...But some of the institutions that hadn't been participants in hedge funds directly in years past are now doing so," Fallon told the Summit, held at the Reuters office in Hong Kong. Source
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