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Asia attracts record USD3.6billion in new assets for Q1 says Hedge Fund Research

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Asian hedge funds attracted a record USD3.6billion in net new capital in Q1 reported Hedge Fund Research this week; the largest quarterl

Asian hedge funds attracted a record USD3.6billion in net new capital in Q1 reported Hedge Fund Research this week; the largest quarterly inflow since the US firm started reporting such numbers in the region. Overall, total AUM for Asian hedge funds increased by over USD4.6billion to USD88.1billion, surpassing the high-water mark of Q2 ’08. Japan was found to be the best performing Asian market for Q1. Despite the earthquake causing a 3.34 per cent decline in March, the HFRX Japan Index finished up 0.5 per cent for the quarter. By contrast, the HFRX Asia Composite Index ended barely up at 0.02 per cent. The USD3.6billion in new capital means that Asia attracted a healthy 10 per cent of the USD32billion in assets allocated to hedge funds globally for Q1, providing yet further evidence that the region is starting to raise its game. The report also found that the number of Asia-focused hedge funds has peaked to 1055: the highest since Q2 ’08. Despite the challenging conditions in March, 40 per cent of funds investing in Develop Asia were able to post positive gains, the report said, with HFR President Kenneth J Heinz (pictured) commenting: “Asian hedge funds, and particularly those focusing primarily on Developed Asian equity and currency markets, demonstrated both tactical flexibility and opportunistic exposure adjustments by preserving early quarter gains through the volatile March period.”

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