Opalesque Roundtable: Family Offices in Singapore -- Old World concept conquers new Asian wealth
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Old World concept conquers new Asian wealth - Asian hedge funds set to benefit
The lack of performance of Asian hedge funds over the last five or 10 years compared with competitors from the U.S. and Europe made it more difficult for them to raise money. However, Japan's “Abenomics” has been a game changer that has put Asian hedge funds back into focus. With more dispersion in stock prices and decreasing correlation across markets, markets are now beginning to reward skill-based strategies again.
The second and even third generation of Asian hedge fund managers spinning out now comes with much better experience of portfolio construction than those who set up pre-crisis. That is a major development and improvement, because while Asian managers have always been very good at generating ideas, their weak point was often the actual portfolio construction and delivery of consistent returns, and this new generation is beginning to understand and develop that. But investors are cautioned to be selective, as “a lot of refugees from prop desks” who felt that starting a hedge fund was a natural career progression when coming out of investment banks delivered bottom quartile returns.
The 2013 Opalesque Singapore Roundtable, sponsored by Eurex, Taussig Capital and Eurofin Asia Group, took place on April 23rd in Singapore with:
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