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From Sagar Chakraverty, Opalesque Asia:

As the hedge fund industry is witnessing a recovery - the MSCI Asia Pacific Index jumped 34% in 2009, after a slump of 43% in 2008 - it seems that investors are willing to put more money into Asia.

A source told Bloomberg on 13-Jan that Soros Fund Management LLC, the $25bn hedge-fund firm founded by billionaire George Soros, was planning to set footprints in Hong Kong (HK). The HK office would be put under the able-hands of New York-based fund managers James Chang and Dai Jixin who would both relocate to HK.

Soros said in October 2009, “The financial crisis has highlighted a ‘tectonic’ economic shift from the U.S. to China. China was to emerge as the ‘greatest winner’ from the crisis with the U.S. losing the most.”

Other hedge fund firms are also having similar plans. GLG Partners Inc., a global hedge fund house listed in New York with $21.6bn in AuM, is also planning to set up offices in HK this year.

Today, Bloomberg reported that Bank of America Merrill Lynch is helping more than a dozen multibillion dollar international hedge funds set up or reestabli......................

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