Hong Kong Hedge Funds 2012

Download the Special Report Hong Kong Hedge Funds 2012

Articles

Graham Seaton, Head of APAC Prime Brokerage at Bank of America Merrill Lynch

Seeding opportunities tight but second generation of managers are setting their sights high

By James Williams – The average hedge fund was up 6 per cent through April and whilst the de-coupling argument largely holds up well for the Asia region, recent events in Europe have nevertheless had some ripple effect. Whenever macro stories come to the fore, correlations increase across all major assets and hedge fund performance tends to drop off. »


Bronwyn King, senior lawyer, Mourant Ozannes (Hong Kong)

Hedge funds in China: opportunities abound

By Bronwyn King (pictured) and Alex Last – Despite (or perhaps because of) global market volatility, the appetite of fund managers for all things Chinese, from investing in offshore RMB to trading on the domestic capital markets, continues apace. Recently, however, there appears to have been a shift in opportunities for both Chinese investors and global fund managers. Over the past decades, the focus for both foreign investors and Chinese regulators has been entirely inbound in nature. However, with the proliferation of domestic Chinese investors, the rapid accumulation of large pools of RMB capital, along with inadequate global liquidity, a subtle shift of focus to opportunities outbound has emerged. »


Charles Kwun, managing director, Vistra Fund Services Asia

Privium offers managers a fast track to market

Interview with Charles Kwun – “We started last year working on plans to expand the fund service in Asia,” comments Charles Kwun (pictured), managing director, Vistra Fund Services Asia. »


Philip Tye, DragonBack Capital

Global regulation drives fund managers to strengthen operational controls and improve corporate governance

By James Williams – A recent industry survey that ranked Asian prime brokerages based on hedge fund AUM was both predictable and unexpected. Predictable in the sense that Goldman Sachs remains the leading broker in Asia. Unexpected in the sense that Morgan Stanley, ranked Number 2 in the survey, was only some USD420million ahead of Credit Suisse (with approximately USD19.2billion in AUM), with Deutsche Bank and UBS each gaining 10 per cent market share. »


Nick Plowman, partner, Ogier Hong Kong

Embracing stronger corporate governance

Interview with Nick Plowman – Given that a high percentage of Hong Kong hedge fund managers prefer the Cayman Islands as a domicile for their fund structure it’s perhaps unsurprising that the recent Weavering case has led to a sharper focus on corporate governance for Cayman Islands law firms such as Ogier. »


Andrew Gordon, head of BNY Mellon's alternative and broker dealer services Asia Pacific

Prime custody is becoming the new norm

Interview with Andrew Gordon – “It really took off in Asia last year,” comments Andrew Gordon, head of BNY Mellon’s Alternative and Broker Dealer Services, Asia Pacific, when discussing the firm’s prime custody model. Launched in 2009, it has grown into one of the fastest growing businesses within Alternative Investment Services (AIS) with approximately USD157billion in AuC. »


Joe Chan, founder and CIO, Galaxy Asset Management

New opportunities for Hong Kong managers as China liberalises capital markets

By James Williams – Athos Capital is a new merger arbitrage hedge fund founded by portfolio manager Matt Moskey, trader Erik Senko and former COO of Black’s Link Capital, Fred Schulte-Hillen. Moskey and Senko previously ran an Asian product under Tiresias Capital Hong Kong Ltd; a subsidiary of event-driven firm Omni Partners. Prior to that, in 2007, the pair opened up the Asian office for London-based Centaurus Capital. »


Sally Crane, managing director, Linedata Asia Pacific

Short selling reporting solution for HK securities

Interview with Sally Crane, managing director of Linedata Asia Pacific –  Following the decision by Hong Kong’s financial regulator, the Securities & Futures Commission (SFC), to tighten its short-selling regime, fund managers trading short positions in Hong Kong-listed securities are required, as of 18 June 2012, to report to the SFC on a weekly basis. »


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