With the Asia-Pacific hedge fund industry in a
dramatic state of flux, it must be regarded as positive that
the net number of funds in Hong Kong still increased in 2008 to
245 portfolios under management.
The first half of the year was comparatively strong with
regard to new fund launches. Twenty-three new portfolios were
launched in Hong Kong over this period, nearly half of the
Asia-Pacific industrys new fund bookings for the first
six months of 2008. This included a new fund from PMA at the
start of the year, which enabled Hong Kong-located start-ups
and new portfolios to raise $1.4 billion over the period,
nearly three times the amount raised by Singapore funds in the
first half and about 55% of the total amount of assets raised
in the industry as a whole.
The second half of 2008 proved to be a completely different