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Komfie Manalo, Opalesque Asia:

Start-up managers in Hong Kong are setting up an offshore hedge fund before even thinking about UCITS to reach the European market, according to Karen Watson, Global Head of Fund Operations at Maples Fund Services. Her firm has one of the largest operational offices in Hong Kong to service Asian managers.

Speaking at the latest Opalesque Cayman Roundtable, Watson said, "Our Hong Kong presence provides clients with on the ground resources from time zone and language perspectives. We also have a fully operational office in Singapore which also primarily services Cayman-domiciled funds."

She added that she has also witnessed an influx of start-up managers coming from South and Central America. The reason for this increase is largely due to changing laws within those countries to allow many of these LatAm managers to invest externally. She explained that she is seeing investment in infrastructure-type funds in the private equity space as well as in some hybrid funds.

Jason Allison, a partner in the investment funds group at Walkers agrees with Watson. He is also seeing a growing demand for emerging markets and funds from South and Central America.

Allison says, "Regarding both funds that originate in emerging mark......................

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