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From Kirsten Bischoff, Opalesque New York:

With $500m in assets flowing into Asia hedge funds in the final quarter of 2010 (according to Hedge Fund Research), many hedge fund managers are focused on opening satellite offices in Asia in order to have an "on the ground" presence in the region. From the recent launch of New York-based (but with Singapore offices) Revere Capital seeding Asia hedge funds, DE Shaw's move to open a satellite Asia office, to the March launch of a Hong Kong based fund by former Goldman Sachs superstar Morgan Sze (expected to be at or over $1bn) managers are looking to ride the wave of assets expected to continue to build for Asia strategies.

Bob Olman, of recruitment firm Alpha Search Advisory Partners, says that his firm is spending a good deal of time recruiting for positions in Asia, and that some managers are taking advantage of distinct regional salary differences. "There is a distinct arbitrage opportunity in compensation between hiring investment professionals who have come from Asia originally and are educated in the US and return to Asia and those who - particularly in mainland China - have never left the country, were educated there, and now work for hedge funds headquartered in America or Europe. The spread in compensation between those two groups is tenfold in favor of those who have spent time in the US," he says. The difference in overhead costs for salary be......................

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