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Asia Pacific Intelligence

News round-up of December news in the Asia Pacific hedge fund industry.

Wednesday, January 09, 2013

December news round-up: Asia Pacific hedge fund news over this month included:

AUSTRALIA

Opalesque reported Damien Hatfield's Triple A newsletter, with Hatfield claiming 2012 was a boring year in hedge funds. Hatfield said that MST Capital Pty Ltd, a global macro trading manager with an Asia Pacific bias based in Sydney, won a $100 million investment mandate from an unidentified Australian superannuation fund, reported Financial Review, while Bloomberg reported in February that UBS AG's only team of traders with a global mandate to make bets on macroeconomic trends had left the bank to form a hedge fund, MST Capital, and that Gerard Satur, the head of macro strategic trading would lead. Hatfield also reported that 90 West Asset Management, a Melbourne-based boutique fund manager specialised in global natural resource companies, won a $100 million equities mandate from another undisclosed Australian industry superannuation fund, said Super Review. The firm runs the 90 West Global Basic Materials Fund (long/short) and the 90 West Global Natural Resources Fund (long only).

Hatfield also reported that Acorn Capital (not to be confused with U.S.-based Acorn Capital Management), a relative value manager based in Melbourne, launched the AU Acorn Capital Asia Small Cap Fund. The fund is issued by Australian Unity Funds Management. Douglas Loh, Acorn Capital's head of Asia, said that there are excellent opportunities in the Asian small cap sector.

BROKERS

Greenwich Associates announced six brokers tied for top spot in Asian market while Nomura retained dominance in Japan.

CHINA

News on sunshine funds in China, found a hopeful uptick in business for the sector. Opalesque reported that a thick cloud shrouded China's prototype hedge funds, or so-called sunshine funds after seeing record liquidations this year but the future looks brighter as insiders believe that the estimated 1,800 sunshine funds across China could rebound next year, benefiting from fresh regulations Beijing is set to implement in 2013. According to the report, the new regulations will bring flexibility in investment strategy compared to mutual funds because they will not be required to invest 60% of their portfolio in equity strategies and also allow such funds to raise their cash positions to evade risk.

Shanghai law firm Boss & Young predicted that China is ready to license foreign firms to expand their hedge fund activities. Source.

COMPLIANCE

Compliance Asia took a look at compliance programmes over 2013, urging clients to look at their AML efforts.

HONG KONG

Opalesque reported that Hong Kong based hedge funds are shifting gears towards UCITS. You can read that story here.

JAPAN

Fortress's Japan Opportunity Fund II has closed with assets at $1.65bn.

TAIWAN

Research from Cerulli Associates revealed that Taiwan's high-yield bond funds have suffered from higher churn.

 
This article was published in Opalesque's Asia Pacific Intelligence our monthly research update on alternative investments in the Asia-Pacific region.
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