Asian Hedge Fund Performance 2011
Asian Hedge Funds Look to Outperform Global Rivals
This, after two years of contraction resulting with a bottoming out in 2010 when assets under management fell to US$15 billion.
Asian hedge funds have been attracting net inflows, as money leaves Europe seeking better returns.
Based on research from Eurekahedge, net flows to Asia ex-Japan hedge funds stand at US$5.5 billion, compared to US$2.1 billion of net flows for the whole of 2010. This bodes well for Singapore's financial services sector, which is constantly looking to reinvent itself.
Singapore is now ranked fourth internationally as an asset management centre, behind London, New York and Hong Kong. That is according to the latest Global Financial Centre Index published this March by the Z/Yen, the City of London's commercial think tank.
Brian Thung, Partner (Financial Services) with Ernst & Young and an Executive Committee member of AIMA Singapore, said: "It has very large knock-on and spin-off effects on the service providers here in Singapore - the legal industry, the fund administration industry and that has created quite a bit of employment. Source