Asian hedge funds lag in insurance protection, Citigroup says
From Bloomberg.com: Asian hedge fund managers’ insurance protection against legal claims for professional wrongdoings lags peers in the U.S. and Europe, according to Citigroup Inc. Sixty-four percent of 47 managers that run Asia-focused funds in Hong Kong, Shanghai, Singapore, Australia and the U.S. own policies including directors’ and officers’ liability, and professional indemnity, according to a survey by Citigroup. That compared with more than 80 percent of European hedge funds in a similar survey last year by Baronsmead Partners LLP.
Asian hedge funds are seeking better insurance protection after the 2008 financial crisis unleashed a rush of legal claims globally and in response to demand from their professional fund directors and investors. Harbinger Capital Partners LLC and Tiger Asia Management LLC were among hedge funds slapped with regulator lawsuits for wrongful acts after 2008… Full article: Source
AIMA plans China chapter as country allows hedge funds
From Bloomberg.com: The Alternative Investment Management Association, the global industry advocacy group, plans to start a China chapter this year as the country opens up to hedge funds previously shunned as speculators. Work on the China chapter began in the third quarter and AIMA hopes......................
To view our full article Click here