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Fund allocation to Asia still low from non-Asian investors but locals are raising their share of allocation, says Paul Smith

Tuesday, March 23, 2010

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From Sagar Chakraverty, Opalesque Asia:

In a recent interview, Paul Smith, founder of Triple A Partners , shared his views with Opalesque's, Matthias Knab regarding the perceptions that both foreign and local investors have about Asia.

Triple A Partners is a seeder and distributor head-quartered in Hong Kong. The firm has seen a marked increase of new fund launches in Asia over last 6 months, primarily from managers with proprietary trading backgrounds, but also from investment bankers entering the hedge funds markets.

Smith said, "It is a tough environment to be in investment banking at this moment so a career in hedge fund management is a lot more attractive. Some of them have left that environment with considerable personal funds so they have been able to self-seed effectively; others have raised money through normal seeding channels." †

Asian markets as seen by foreign and local investors European and North American investors still allocate relatively small portions of their funds to Asia and typically look for 20%-30% returns. Non-Asian investors tend to allocate when markets are bullish and they do not have any long-term commitment to Asian markets "Sometimes you can be misled by the rhetoric into believing that investors are actually looking for true hedge fund......................

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