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Alternative Market Briefing

BNP Paribas: Hong Kong leads development of Asian hedge fund industry

Wednesday, May 23, 2012

From Komfie Manalo, Opalesque Asia – Leading the evolution of Asia’s hedge fund industry are Chinese fund managers who use Hong Kong as their hedge funds base, according to Philippe Ricard, head of asset and fund services at BNP Paribas Securities Services.

Ricard told that the fund industry in Asia is experiencing a dramatic change that is expected to see Asian fund managers expand their capabilities to transcend regional boundaries, incentivize regulators and sign bilateral agreements.

He cited the ability of Chinese managers to allocate their clients portfolios directly into interbank bonds and equities markets in China using the RQFII scheme, which has effectively transformed Hong Kong into a major destination where managers are enable to highlight their domestic expertise track record to the global market place.

Mostapha Tahiri, BNP Paribas Securities Services’ head of asset and fund services in Asia, compared the growth of Hong Kong’s funds industry to the development of cross-border UCITS scheme in France.

On a related note, Asia is becoming an important financial center for global fund of hedge funds. Last month, data provider Eurekahedge revealed its latest survey of 100 FoHFs globally that Asia is emerging as the mos......................

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