Bloomberg- Value Partners Group Ltd., Asia’s second-largest hedge fund manager, said 2007 profit surged 66 percent on growing assets.
Profit reached HK$1.42 billion ($183 million) from HK$856.3 million a year earlier, the Hong Kong-based company said in a filing to the city’s stock exchange.
Value Partners’ results announcement, its first as a publicly traded company, came as $195 billion of asset writedowns and credit costs linked to U.S. mortgage markets raise the risk of a global economic slowdown, bringing a five-year bull market to an end.
