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Alternative Market Briefing

Asian hedge funds have faced challenging times since 2008

Tuesday, June 04, 2013

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Thor Monsen
By Beverly Chandler, Opalesque London

The Opalesque 2013 Hong Kong Roundtable, sponsored by Bingham McCutchen, Eurex and Taussig Capital saw Thor Monsen, director, Citi Private Bank, commenting that the last five years have been challenging for the Asian hedge fund industry.

He said: "In this period we have been through two of the worst years ever seen in the history of hedge funds: 2008 and 2011. But a much overlooked fact is that Asian hedge funds overall have made positive returns from the beginning of 2008 to today, whilst the Asian equity markets have been negative over the same period. This is real outperformance in terms of total return with significant lower volatility."

Since 2008, Monsen has found that there is a more structural issue challenging Asian managers as the net inflow into the industry has come from pension funds and endowments. "These investors are finding it difficult to identify funds in Asia that meet their investment criteria. I can understand that these investors are more comfortable allocating to a large US or global fund than some Asia specific fund based in Hong Kong or Singapore" he said. But the result is that Asia has been missing out on the inflows into ......................

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