Weekly Asia News (Friday)

Despite 2012 being a year coupled with risks and rewards the year ended on a positive note. All strategic mandates were in the black for December, with multi-strategy hedge funds posting the strongest gains of 2.37% for the month and 8.55% for the year. Hedge funds across all regions witnessed positive returns for the month with Asian hedge funds posting the best performance numbers. »

Singapore Exchange’s (SGX) derivatives and commodities markets achieved several new record highs in both December and the full year. »

A strong end to 2012 saw Asia ex-Japan hedge funds deliver some solid results in what is sure to provide a welcome fillip to the region’s alternative funds industry. The Eurekahedge Asia ex-Japan Hedge Fund Index ended 2012 with returns of +10.5 per cent, a seismic shift in fortunes in comparison to 2011 which saw losses of -12.4 per cent. »

The Depository Trust & Clearing Corporation (DTCC) has opened its Asia Pacific global data site headquartered in Singapore. »

Vistra Fund Services (VFS) this week announced further expansion in Asia with the opening of its Singapore office. VFS is a global independent fund administrator and part of the Vistra Group, a global provider of corporate, trust and fiduciary services, as well as fund administration and outsourcing services. »

Fortress Investment Group has closed the Fortress Japan Opportunity Fund II (FJOF II) at its cap of JPY130bn, or approximately USD1.65bn. »

Bill Hwang’s Tiger Asia Management LLC has pleaded guilty in a federal insider-trading case in New Jersey and is to pay more than USD60million to settle criminal and civil charges reported Fox News this week. »

Wells Fargo Global Fund Services has opened an office in Hong Kong, located in Wells Fargo’s existing local office in Central. »

Asian ex-Japan hedge funds returned an estimated 1.28 per cent in November according to Eurekahedge, to leave in a reasonably satisfying position of +7.49 per cent YTD. What a sharp contrast to the same period last year, which saw losses of -3.89 per cent and a dismal YTD return of -11 per cent. »

The Financial Services Authority has granted approval for the acquisition of LME Holdings by Hong Kong Exchanges and Clearing (HKEx). »