WEST PALM BEACH, FL (www.hedgeco.net) – The hedge fund boom in Asia has attracted attention from a significant number of U.S. based hedge fund managers. Many of the U.S. based hedge funds are settingup shops in Asia; many analysts think more trading opportunities are available in the region because of the inefficiencies in the Asian markets, still largely classified as emerging market.
According to new published reports, Bear Sterns is in the process of launching a hedge fund that would focus on Asian markets. According to the report, the new fund would dedicate about one half of its assets to Japan, while also targeting India, China, and other markets.
Bear Stearns senior managing director Bill Ullman said, “We are in the early stages of globalization of the hedge fund business. We are seeing the rise of global alternative investment organizations such as Man Group. Many US-based hedge funds are increasingly looking to have sizeable non-US offices . London is seen as the first stage. Some have already moved on to Asia and Japan, and we have a couple of clients poking around India now.”
New reports also indicate that Tremont Capital, with over $10 billion in assets is also joining the bandwagon of US-based asset managers opening workshops in Asia. Tremont�s Chief Executive Bob Schulman said, “There is a rapidly growing hedge fund community in Asia, and we also expect to serve a growing number of high net worth and institutional clients there.”
New hedge fund launches in Asia have increased significantly in the first half of 2005 according to Asian based firm AsiaHedge. According to data from AsiaHedge a total of 55 new hedge fund managers launched their operations in Asia during the first six months of 2005. The level of assets managed by Asian hedge fund managers has also doubled to $3.5bn according to AsiaHedge.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
HedgeCo.Net is the most popular hedge fund database and community in the world. Membership on HedgeCo.Net is free and easy. We also offer free listings for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com.
