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From Komfie Manalo, Opalesque Asia:

Participants at the recent Opalesque Hong Kong Roundtable concluded that Hong Kong was a great place for hedge fund managers and investors and that the island could position itself as the outbound gateway to the rest of the world for China.

George Long, who runs LIM Advisors, an Asian-based multi-strategy investment group, predicted “that Hong Kong would probably become stronger because of all the capital in China and the $2tln of reserves that is going to eventually find its way around the world, some of that would go through Hong Kong.”

But Long said the regime in Hong Kong was not doing enough to actually solicit or present itself as a gateway for outbound money.

Setting up a base of operations in Hong Kong and regulation issues According to Long, Hong Kong is a good regional base and is a lot better than Japan. He said the island has a very good infrastructure and a good tax system. The investment industry regulation in Hong Kong is also sufficient, he said.

Andrew Higgins from the Northwest funds recalled that it took his firm about seven weeks to secure their license in Hong Kong from start to finish.

Structural deficits challenging Asia Craig James, who runs the Asia Volatility Fund for AM Investment Partners said Asia was faced with structural deficits particularly over listed marketplace, specifically in derivatives.

James s......................

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