Reuters UK- Hedge fund managers around the world have clustered in locations with character, such as leafy Greenwich, Connecticut in the U.S. and the stately Mayfair neighbourhood in London.
The latest focal point for hedge funds is Singapore’s picturesque Chinatown, where pastel-coloured traditional shop houses, ornate Buddhist temples and Chinese clan houses are within walking distance from the city-state’s financial district.
“Hedge fund managers like to be in a slightly more alternative environment. It’s understandable that if you’ve worked in an investment bank for a long time, you would seek to escape the glass-walled environment,” said Kate Colchester, a director at Singapore-based hedge fund research firm Eurekahedge.
With registered hedge fund assets of about $10 billion (5 billion pounds) according to Eurekahedge, the hedge fund industry in Singapore is smaller than in Hong Kong, which has about $33.5 billion in hedge fund assets, according to official data.
