No more false dawns in Asia?

Wed Apr 4, 2012

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Despite the negative returns last year and a renewed contraction in assets and numbers of funds trading, the stage is already set for this anticipated ‘great leap forward’


By Neil Wilson

When we first launched AsiaHedge in the year 2000, it was arguably a little too early in the development of the industry. Assets in Asia-Pacific hedge funds were barely $12 billion back then, and a lot of that was managed outside the region by firms in the US or the UK.

Our thinking was of course that the economies of Asia were probably the most exciting in the world - and that their markets were sure to grow in range, depth and complexity.

Over the past decade or so, the basic thesis has proved largely correct. The Asian economies have continued to grow dramatically and their financial markets have too, though perhaps not in synch with the underlying real economy. Continued economic growth of 7% to 8% in China last year, for instance, was not matched by local stock markets - and that was reflected in negative returns...

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