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Alternative Market Briefing

More Asian hedge funds fell into less than $10m category in 2012, GFIA (Part 1)

Tuesday, April 16, 2013

From Komfie Manalo, Opalesque Asia:

Singapore-based hedge fund consultant and manager GFIA noted a significant spike in the number of Asian hedge funds with less than $10m in assets under management (AuM) due to investor withdrawals and fund poor performance.

In terms of performance, the Eurekahedge Asian Hedge Fund Index finished 2011 down almost 8% and 2012 up almost 10% (it is currently up 5.5% YTD to end-March).

GFIA’s Asian Hedge Funds Note for April 2013 also reports that there were only six new hedge funds launched in 2012 with less than $10m in AuM. 29 funds were launched during the year.

"Of the 769 funds that report AuM regularly, 443 of them have less than $50m under management, the minimum level which we estimate management fees can support the operational expenses of a typical boutique in Asia - although this figure has likely increased over the past few years," the report says. "Currently, there are 212 funds with at least $100m under management, and a minimum 12 months operating history; this is the absolute minimum 'cut’ which, in our experience, the majority of allocators are comfortable."

2012 saw a decrease in number of funds that were larger than $10m, except for the billion dollar fund category which saw an increase of one fund.

The data clearly indicates that only around 28% of the industry is getting ......................

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