Cautious optimism for a better event-driven climate in 2012
Mon Feb 20, 2012
2011 was a year to forget for event-driven with global uncertainty putting deals on hold and companies into damage limitation mode. But 2012 is looking more optimistic, particularly for Chinese and Japanese firms, and event-driven’s fortunes could be on the turn
Anyone who has followed the Asian hedge funds industry for a
more than a few years is likely to experience the feeling of
déjà vu. As the markets rotate through cycles,
hedge fund strategies go in and out of favour as the years go
by. So it is with event-driven funds - the hot topic in late
2009 and early 2010, it is once again a strategy to watch,
industry pundits say. But are event-driven funds bound to
disappoint again, as they did last year, or are managers
getting smarter at exploiting the opportunities?
It was not that long ago that the Asian event-driven space
was virtually non-existent. Although the region presented
event-driven opportunities, it was the big international funds
that took advantage of them in multi-strategy funds. By 2009
the gap in the market had been identified, and over the next
year there was a slew of event-driven launches,
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