WEST PALM BEACH, FL (HEDGECO.NET) – A new survey jointly conducted by Pioneer Investments and the Bank of Bermuda projected hedge fund investments in Singapore and Hong Kong to grow between 10-20%during the next two years. This conclusion was reached through a survey of banks and other institutions, which advise hedge funds.
The new survey also shows that currently most institutions in both Singapore and Hong Kong do not invest in hedge funds. However, Hong Kong institutions are perceived as more advanced that those of Singapore in the possible acceptance of hedge funds as an investable asset class. The study also concluded that growth in hedge fund instruments, as an asset class in both countries, will be rapid during the next two years, with a projected growth rate of 20-25% during the duration.
Favorable retail hedge fund laws in both countries were passed in 2002, according to published reports. The Monetary Authority of Singapore [MSA] said there are now a total of 54 hedge funds operating in the country. That number has doubled from 26 funds recorded at the end of 2002. Year-to-date, there has been 13 new hedge fund launches in Singapore, MSA authorities said.
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: [email protected]
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