Bloomberg – Artradis Fund Management Pte, RAB Capital Plc’s Northwest unit and Cannizaro (Hong Kong) Ltd. are cutting fees and locking up investors’ money for longer in new hedge funds that will buy bonds after prices fell in Asia.

Merrill Lynch & Co.’s prime brokerage unit has been approached by at least eight money managers about starting such funds in Asia to buy beaten-up fixed-income securities such as convertible bonds, said Eddie Guillemette, the firm’s regional co-head of global markets financing and services. Some of the hedge fund managers are offering to reduce management and performance-based fees by as much as 50 percent, he said.

“You’ve got people who are now setting up vehicles with long lockups to take advantage of distressed or stressed asset classes where the pricing is now at a multidecade level of cheapness,” said Richard Johnston, Hong Kong-based Asia head of hedge fund consulting firm Albourne Partners Ltd. The UBS Convertible Asia ex-Japan Index is down 37 percent in dollar terms this year.

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West Palm Beach (HedgeCo.net) – Research and Markets announced the addition of a new report, "Asia-Pacific Capital Markets Handbook 2009".

With increased investment and stability in the region, the Asia-Pacific capital markets have experienced rapid growth over the past few years, with many markets emerging as key players in the global economy.

"The economic appetites of the Asian tigers are alive and well in the global economy of the 21st century," it says in the report, "In fact, Asia’s share of the global economy continues to grow at a feverish rate. Asia’s combined gross domestic product (GDP) was over US$5 trillion in 2007, doubling in constant dollar terms since 1998. Asia accounted for over 13% of global GDP in 2007, up over 40% from the 9% recorded in 1998. With this growth in economic activity we have seen unprecedented expansion into the capital markets by Asian countries." 

The Asia-Pacific Capital Markets Handbook 2009 is a guide through the key areas of growth and provide you with an insight into the region. With editorial from key players in the industry and contributions from (among others) the Philippine, Vietnamese, Japanese and Korean markets, this Handbook is a ‘must have’ tool for your work in the region, says Research and Markets.

Alex Akesson

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