WEST PALM BEACH, FL (HEDGECO.NET) – Morgan Stanley Asset Management said it plans to boost its Asian hedge fund management portfolios as more Asian investors are seeking hedge fund investmentmanagers. Morgan Stanley is already a major player in the Asian hedge fund management arena, with about US $10 billion under management in Asia. The asset manager now plans to boost its Asian hedgefund management assets to US $50 billion over the next three to five years, according to news reports.
New studies also point to growing hedge fund investor interest in Asia. For instance, a report by the Monetary Authority of Singapore shows that hedge fund assets managed in Singapore grew by about 39% in 2003. Morgan Stanley�s Asian managed assets grew by about 50% during 2003. Other Asian hedge fund money managers have also seen significant increases in their Asian management portfolios during 2003.
Morgan Stanley�s customers in Asia are mostly institutional investors, but the company also has launched a handful of offshore hedge funds marketed to private clients. The firm employs a 33-member staff, working out of its Singapore office.
William Ennis, Morgan Stanley president for global services said, �It comes down to our ability to supply above average performance over long periods of time. That’s the ultimate litmus test of success. We also have to compete internally, to make sure we have the right culture, challenges and value propositions for the people who work for us,� Ennis explained.
Ennis added, �It has been uncanny that in the last year or two, we’ve seen our global clients – institutions and individuals – going beyond the classic investment strategy, which is a long-only balanced portfolio.
They’ve raised their exposure to high-yield or Asian equity. They’ve gone into funds of hedge funds and single strategy (hedge funds), and are even looking at managed futures or commodities. There really is the search for a balance of beta and alpha together to try to grow in a low-return environment,� according to Ennis.
Paul Oranika
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