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From Precy Dumlao, Opalesque Asia:

As the Chinese government formally allowed foreign hedge funds to tap into local wealthy individual investors for funds to invest overseas, the Shanghai Hedge Fund Association, or SHFA, was officially launched over the weekend with the aim of promoting hedge funds operating in Shanghai.

In an emailed statement, Clark Song, Mananging Director at SHFA said that the Shanghai hedge fund network would be transformed into an education and communications organization to enable hedge fund firms in the city to participate in public policy discourse and share best practices. It is also a networking group for hedge fund firms and investors.

Song explained, "As a new industry body in the hedge fund business, SHFA wants to invite some veterans to join us as advisors (now we have had three advisory directors from hedge fund firms, investors, and service providers). We hope you could nominate or introduce any person you know. We are thankful for your help."

Last week, the FT reported that Beijing had given foreign investors permission to tap Chinese wealthy individuals for funds to invest in the country. The announcement came as Beijing tries gears towards liberalizing its domestic account, creates a new channel for domestic capital to flow abroad, and give Chinese institutions access t......................

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