History: Development of a hedge fund hub

Mon Mar 23, 2009



The ’80s and ’90s: the early days

Although it has never been the biggest hedge fund centre in the Asia-Pacific in terms of assets, Hong Kong lies at the heart of the industry’s development within the region. A significant factor is Hong Kong’s longstanding role as the centre for investment banking in the region. This means that all prime brokerage operations have historically been headquartered in Hong Kong.

While it may not be Asia-Pacific’s leader in overall assets, Hong Kong has played host to the largest number of hedge funds in comparison to its peers in the region. It also can lay claim to being the home of the first hedge funds to be established in Asia.

The anecdotal evidence points to Hong Kong-headquartered Sofaer Capital, headed up by Michael Sofaer, as Asia’s first single hedge fund operation. The firm was set...

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