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Alternative Market Briefing

Industry consolidation and new regulations challenge Asian hedge funds

Wednesday, December 05, 2012

From Komfie Manalo, Opalesque Asia – Industry consolidation and new regulations are two of the major challenges that are facing Asia-focused hedge funds in the near-term, according to at least 100 hedge fund managers polled by accounting firm Ernst and Young in a survey.

In a report by Channelnewsasia.com, hedge fund managers added rising costs and pressure to lower fees, driving down profits, as major concerns for the industry in the region.

The report also cited data from Singapore-based hedge fund data provider Eurekahedge which showed that Asia-focused hedge funds are managing an estimated $126bn in assets this year. The figure is 30% less than the $192bn managed by hedge funds in the region in 2007.

The result of the survey echoed earlier findings by Andrew Gordon from BNY Mellon, head of alternative and broker-dealer services for Asia-Pacific, and Stewart Bent from Credit Suisse’s prime fund services business unit in the region, who claimed that Asia's alternative fund services industry is in a state of flux, with newcomers catering to small, indigenous funds while consolidation and cost-cutting is taking place at larger providers.

According to the duo, hedge funds’ administrators are particularly at risk because their pro......................

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