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Asian Hedge Funds Lag in Insurance Protection, Citigroup Says

Bloomberg – Asian hedge fund managers’ insurance protection against legal claims for professional wrongdoings lags peers in the U.S. and Europe, according to Citigroup Inc. (C)

Sixty-four percent of 47 managers that run Asia-focused funds in Hong Kong, Shanghai,Singapore, Australia and the U.S. own policies including directors’ and officers’ liability, and professional indemnity, according to a survey by Citigroup. That compared with more than 80 percent of European hedge funds in a similar survey last year by Baronsmead Partners LLP.

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