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Laxman Pai, Opalesque Asia:

Hedge funds in Asia have continued to increase their headcount and still have an appetite to hire more talent despite the economic uncertainty brought about by COVID-19, said a survey. The coronavirus pandemic saw Asia hedge funds promote work-life balance and invest in IT infrastructure, it added.

According to a new joint report by KPMG and the Alternative Investment Management Association (AIMA), 45 percent of hedge funds in Hong Kong continued to hire during the coronavirus outbreak, while 18 percent said they did not hire during this period but are still on the lookout for new talent.

The report titled Agile and Resilient: Alternative investments embrace the new reality surveyed 144 hedge fund managers globally, representing an estimated USD 840 billion in assets under management (AUM), revealed that, for the Asia Pacific as a whole, 35 percent stated that they increased their headcount during the pandemic, while 15 percent noted that they did not hire but have plans to do so.

Hedge funds also believe the pandemic has created opportunities for attracting new employees and retaining staff, with forty-five percent of those in Hong Kong saying it attracts those looking for flexibility over where, when and the hours worked. Twenty-seven percent meanwhile believe it has opened up a pool of talent from firms closing in the same sector.

This reflects the Asia Pacific as a whole, where 30 percent of respondents respectively said the s......................

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