New York (HedgeCo.net) – The latest AsiaHedge New Funds Survey reports that 53 new Asia-Pacific hedge funds raised a combined $2.13 billion in the first half of 2010. Hong Kong emerged as the destination choice for a majority of these new fund launches, accounting for 65% of the new funds, leaving behind Singapore by a wide margin.
The $2.13 billion figure is an increase of 90% over the $1.12 billion raised by new funds in the first half of last year and 43.6% over the $1.48 billion assets raised in the second half of 2009. The number of launches for this year is also up 36% compared to 39 new funds in first half of 2009.
“We anticipate an accelerated consolidation within the industry by the end of the year, given that the performance has been largely flat and capital arteries are still blocked,” Aradhna Dayal, Editor of AsiaHedge, said. “With operational costs rising and the macro economic scenario looking uncertain, unless things change we would expect more of the smaller managers to face increased business risk – which may well result in an increase in the shutdown rate and/or further consolidation through mergers and acquisitions.”
Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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