Consolidation climate changes market dynamics for Asian fund administrators

Wed Jun 19, 2013

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HSBC maintains its dominance of the Asian hedge fund administration landscape in terms of fund mandates, while State Street emerges as the new market leader by assets under administration

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The AsiaHedge Asian hedge fund administration for 2013 survey reveals the changing dynamics in a marketplace faced with rising costs and barriers to entry, industry consolidation, growing regulatory and investor demands, and a shrinking hedge fund universe.

Following its high-profile takeover of Goldman Sachs Administration Services last year as well as its ownership of the old IFS business, Boston-based State Street has emerged for the first time as the largest hedge fund (HF) admin-istrator in Asia by assets under administration (AuA).

State Street now boasts $26.86 billion in AuA, followed closely by Citco Fund Services and HSBC, which are neck and neck with $23.57 billion and $23.01 billion in AuA respectively.

In terms of the number of funds administered, however, HSBC remains the market leader in the Asian hedge fund administration landscape by a wide margin. The bank has 120...

ISSN: 2151-1845 / CDC10004H

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