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Komfie Manalo, Opalesque Asia: Asian hedge fund managers have seen tremendous growth particularly last year. However, one notable change in the region is the increased turnover of managers in Asia, said Theodore Qi Shou of Skybound Capital, a global asset manager specialized in alternative investment.
Commenting on the issue of the opportunities for Asian managers at the latest Opalesque Hong Kong Roundtable, Qi Shou said it is very easy to track asset managers in Hong Kong because most fund managers or hedge fund-like family offices are required to secure a Type 9 license with the Securities and Futures Commission (SFC).
He told the roundtable, "We estimate that in the past the annual turnover among hedge fund managers that are registered and licensed in Hong Kong would be in the range of 15% to 20% per annum, meaning 15% to 20% of them will drop out and cease to be a licensed entity which pretty much means they are out of business, and usually about the same number of new or emerging managers come into play."
However, in most recent years, Shou noted that plenty of new managers have emerged and "they may come from anywhere that you can imagine."
He added that some of these new managers used to be prop traders, or head of sales or head of marketing at investment banks. There was even a former "head of IT" coming to la...................... To view our full article Click here
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