WEST PALM BEACH, FL (www.hedgeco.net) – Hedge fund managers are attracted to the growing opportunities in Asia. Market analysts believe part of the reason is that many of the Asian markets are farless researched compared to the markets in the Western industrialized countries. Seven years ago some of the Asian Tiger economies blamed hedge funds for the speculative trading in their currencies.Some of these countries charged that hedge funds were partly responsible for their currency problems. That was then; today Asian countries are vying for the business of hedge funds, most notably,Hong Kong, Singapore, Japan and Korea.
According to published reports, hedge fund assets under management in Asian grew from $34 billion in 2003, to over $60 billion in 2004. According to the London based Consultancy firm, Eurekahedge, the total hedge fund assets under management in Asia may have surpassed $70 billion in 2004. The rate of growth in the Asian Hedge Fund industry is higher than that of the United States or Europe.
Analysts have predicted a rapid growth in the Asian Alternative Investment Management Industry. With growing economies, population and the middle class, the Asset Management industry in Asia may be entering an era of significant growth and expansion.
Growing numbers of American hedge fund managers are positioning themselves in such places as Hong Kong, Japan, Singapore and Korea to take advantages of the anticipated expansion in the Asian hedge fund management industry. Firms such as Everest Capital, FrontPoint Partners, Rohatyn Group and Tudor Investment are among the growing list of hedge fund managers moving into the Asian arena.
While hedge fund laws and regulations are still stiff in Asia, some countries have begun to relax such laws, as many Asian Central Banks have also started to trade in such macro bets on instruments and derivatives such as US interest rates and the dollar.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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