WEST PALM BEACH, FL (HEDGECO.NET) – Hedge funds are marching ahead with growth in Asian countries, particularly in Singapore. According to the Monetary Authority of Singapore [MSA], there are now atotal of 54 hedge funds operating in the country. That number has doubled from 26 funds recorded at the end of 2002. This year-to-date, 13 new hedge funds have launched.
Total assets managed by the Singaporean hedge fund industry have grown to about US $2.5 billion, the monetary agency also noted.
Ng Nam Sin, MAS Executive Director, told an industry conference, �Investors see Asia as an increasingly attractive location, and Singapore is riding on the wave of increased interest.� According to Sin, there is also growth in the number of high-net-worth persons in the Asian region, further fueling the growth of alternative investments in the Asian sector.
The growth of Asian hedge funds fits the global pattern as battered equity market investors continue to seek refuge in hedge funds, a trend, which began with the meltdown in the technology sector, and the resulting bear market, which began about four years ago. Growth in the global hedge fund industry has been accelerating over the years.
The latest data from hedge fund tracking firms reported that for the first time, hedge fund assets have surpassed US $1 trillion mark. According to GFIA Pte Ltd., a hedge fund consultancy firm, the hedge fund industry in Asia manages about US $40 billion. Peter Douglas, a principal at GFIA, also disclosed that the Singaporean hedge fund industry is one of the fastest growing markets in the region.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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