Inflows into larger managers propel Asia-Pacific assets to over $144bn
Fri Sep 21, 2012
Asia-Pacific industry assets grew by 2.5% to touch $144.09 billion in the first half of 2012, a refreshingly positive result following a difficult period of attrition and weak performance. Other key trends include the growing prominence of multi-strategy funds in Asia and the further migration of the assets to the East, with close to 78% of regional assets now managed from within the region
Contrary to expectations, the Asian hedge fund industry showed
a marginal expansion in asset terms in 1H 2012, despite a
significantly challenging environment that saw near flat
performance and some of the most high-profile withdrawals from
the business (such as long-running stalwarts like Penta and
Tiger Asia returning money to investors), according to the
latest AsiaHedge asset survey.
Neutralising the impact of the shutdowns and a lack of
outlier returns was the entrance of significant new players
that attracted considerable capital (such as Tybourne and ARCM)
and the significant asset growth experienced by some of the
larger existing managers, such as Hillhouse and Segantii.
Investors, on their part, also continued to hold off major
redemption decisions ahead of the US elections and China
re-balancing, resulting in minimal net redemptions from the
industry - so far at least.
The cumulative effect of these factors was a surprisingly
positive asset figure...
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