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Komfie Manalo, Opalesque Asia: "The planned hedge fund parks in Shanghai, and also in Pudong and Hangzhou have received a warm welcome from both local and foreign investors," says Kenny Li, CEO of Sino-Foreign joint venture firm Quattro Quant, during the latest Opalesque China Roundtable. He adds that the original plan for a hedge fund park was for 10 offices in CITIC plaza, but the number of registrants climbed rapidly, beating even long-term projections.
According to Li, Hongkou, a district of Shanghai wanted to create a niche in the financial sector and launched the first ever development zone for hedge funds in China called Shanghai Hedge Fund Park. The local government originally hoped to register 70 firms in one zone, with a collective AUM of $1.54bn (RMB 10bn) within a year-and-a-half. But by May 2015, some 250 firms, managing a total AUM of $22.8bn (RMB 150bn) had asked to join.
Hedge fund parks also established in Pudong, Hangzhou
After helping to prove the concept for a financial center in Shanghai, Li acted as a consultant for the Hongkou government on the other parks. Li's firm, Quattro Quant aimed to become the local partner for new hedge funds to help them run their China business.
Dr. Martin Lockstrom QuantCore Capital Management added that there are also hedge fund parks planned in Pudong and Hangzh...................... To view our full article Click here
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