No more false dawns in Asia?
Wed Apr 4, 2012
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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