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From Komfie Manalo, Opalesque Asia:

Paris-based HDF Finance, a $3bn fund of hedge fund, is seeking to allocate to hedge funds with Asian and Australian regional focus, in strategies other than equity long/short.

In the February issue of The Australian Hedge Newsletter published by Hatfield Liptak Advisors, it was reported that HDF finance had made allocations to 15 hedge funds that are either based in Asia or have the majority of their exposures to the region. At least 90% of this exposure is equity long/short.

Most of the managers are in Hong Kong, Singapore and Tokyo, but the firm is also considering some managers in Australia, the report said.

The firm’s Singapore office is headed by managing director Sebastien Cabanel, who joined HDF in 2005. In Europe, HDF also offers strategies in fixed income, credit, volatility, currency, macro and managed futures.

Australian hedge funds climbed 0.7% in January The planned entry of HDF Finance into Australia’s hedge funds would be a big boost for the region’s A$65bn (US$42bn) hedge fund industry, which managed to post a modest 0.7% return in January-08, according to Australia Fund Monitor (Opalesque: 03-Mar-09).

Last week, the chairman of Alternative Investment Management Association (AIMA) Australia Kim Ivey told Bloomberg.com that he expected the local hedge funds industry would attract a net inflow of cash in 2009, after a record number of redemptions ......................

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