Glance no further than towards the top-line numbers, and
growth in the Asian hedge fund industry over the last decade
has been impressive. Between June 2004 and June 2011, according
to AsiaHedge data, total assets in Asian hedge funds rose from
$49 billion to $144.65 billion, an increase of close to 200%.
The total number of funds, meanwhile, has also surged in recent
years – from 348 at the end of 2003 to 785 in June
This all sounds healthy enough for an industry that was left
more severely scarred by the 2008 crisis than hedge funds in
the US and Europe. After all, assets under management in Asia
fell by a calamitous 33.4% in 2008 and by $8.6 billion in the
fourth quarter of that annus horribilis alone.
Probe slightly deeper, however, and it is clear that the
region’s alternative investment management
industry still has plenty...