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Hedge funds do the Singapore sling

FT Alphaville- New figures from Singapore’s central bank bear out the (abundant) anecdotal evidence of the quickening exodus of Asia-focused hedge funds out of Japan and elsewhere and into Singapore.

Reuters reports that assets managed by fund managers in Singapore grew 32 per cent to S$1,173bn ($862bn) last year, driven by a doubling in assets held by hedge funds.

Assets managed by hedge fund managers in Singapore doubled to close to S$80bn in the year, while the number of hedge fund firms in Singapore increased by more than 50 per cent to almost 300, according to the island state’s Monetary Authority. Meanwhile institutional investors such as pension funds, endowments, foundations, companies and financial institutions accounted for 43 per cent of the funds.

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