{"id":9894,"date":"2009-02-17T00:00:00","date_gmt":"2009-02-17T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"penjing-asset-says-it-may-not-get-performance-fees-until-2010","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2009\/penjing-asset-says-it-may-not-get-performance-fees-until-2010.html","title":{"rendered":"Penjing Asset Says It May Not Get Performance Fees Until 2010"},"content":{"rendered":"<p>Bloomberg &#8211; Penjing Asset Management, a Hong Kong-based hedge fund of funds manager overseeing about $520 million, said it may not get any performance fees until next year, and declining income will restrict staff bonuses.             <\/p>\n<p>The company, which ran the fourth-best-performing Asia- Pacific fund of hedge funds last year, plans to keep all its 22 staff as layoffs by rivals make it cheaper to retain talent, said Chief Investment Officer Ronnie Wu.     <\/p>\n<p>&ldquo;Realistically, 2009 we are just trying to climb the high- water mark,&rdquo; Wu, 40, said in an interview yesterday, referring to a fund&rsquo;s peak net asset value. &ldquo;If we&rsquo;re lucky, maybe we will get some incentive fees in 2010. It will be tough. The senior guys will take a pay cut. But if we can keep everybody intact, I think the future will get better again.&rdquo;     <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&#038;sid=aRNeL3j3RQ3g\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Penjing Asset Management, a Hong Kong-based hedge fund of funds manager overseeing about $520 million, said it may not get any performance fees until next year, and declining income will restrict staff bonuses. The company, which ran the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3017,249,216,1742,709,7620,1077,4515,6931,7622,7621,1202,6131],"class_list":["post-9894","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-asia-pacific","tag-asset-management","tag-asset-value","tag-chief-investment-officer","tag-fund-of-hedge-funds","tag-hedge-fund-of-funds","tag-high-water-mark","tag-hong-kong","tag-incentive-fees","tag-layoffs","tag-net-asset","tag-performance-fees","tag-rivals"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9894"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9894\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}