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Xavier Fanjaud by Beverly Chandler, Opalesque London
Unlike the other partipants in the 2011 Opalesque Hong Kong Roundtable, sponsored by Bingham McCutchen, Xavier Fanjaud from Gen2 Partners has not found rapid signs of growth in investor interest. "Despite the fact that everybody says Asia is great, has a lot of growth and should be the place where to invest, we found that investments in Asia have been very subdued. That is not only the case on the hedge fund side, but even in the long-only arena, flows into Asia have been reasonably slow."
Fanjaud cited as an example ETF inflows. "Only 5% of the ETF inflows went into Asia when it should be around 25%. At some point the situation will reverse. I agree that we are seeing fewer and smaller launches. When in the past people would launch a hedge fund with $50m or $100m, they may now launch with just $10m or $20m."
A positive development for Fanjaud is that investors like funds of funds which have much more interaction with the manager. "People setting up new funds usually do have a great background and set up their operations in an institutional fashion, using good administrators, auditors, law firms etc. We can also negotiate more with them and give feedback on their liquidity profile, transparency, or even their leverage and target performance."
Fanjaud finds interesting diversity between Singapore and Hong Kong. "From a geo...................... To view our full article Click here
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