Thu, Sep 18, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hong Kong hedge fund managers lose jobs as opportunities dwindle - report

Monday, July 15, 2013

Precy Dumlao, Opalesque Asia:

Hong Kong-based hedge fund managers are losing their jobs as offshore fund managers wind down their operations from the former British colony because of slowing growth on the mainland and increasing opportunities in the U.S., the South China Morning Post reports today, adding that a leading hedge fund had just let is chief financial officer go.

According to the report, hedge funds are seeing opportunities in the recovering U.S. economy as well as the appreciating U.S. dollar.

Only recently, Chicago-based fund manager Citadel downsized six jobs from its Hong Kong office and decided to manage their Asian trading from the U.S. and Europe. Steven Cohen’s SAC Capital Advisors earlier this year relocated five of its staff in Hong Kong to offices in London and New York – although the firm also hired a trading co-head for Asia in Hong Kong.

Alex Eymieu, a partner of recruitment agency CTPartners told the South China Morning Post, "Unfortunately, this is the rea......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc