| HONG KONG
HONG KONG Feb 25 Hedge funds launched in Asia
in 2013 raised a fifth less than a year before as more managers
launched funds with smaller sizes, according to a survey.
As funds found it tougher to attract investors in one of the
industry's quietest years since the global financial crisis in
2008, new funds raised $3.85 billion, according to the
twice-a-year survey from AsiaHedge. That was down from a record
$4.74 billion in assets in 2012.
The number of new hedge funds increased by about a tenth to
71 in 2013 from 65 a year earlier, indicating that launch sizes
Last year's collection featured only one fund, from Asia
Research & Capital Management, that raised $1.1 billion in the
region's biggest launch last year.
"Much of this slowdown can be attributed to the longer
gestation period that new funds in Asia, and indeed across the
world, are facing," said Aradhna Dayal, head of Asia for
HedgeFund Intelligence which runs AsiaHedge.
Hong Kong strengthened its position as Asia's hedge fund
capital last year as more than half of the assets raised by new
funds flowed into the city's managers.
Rival Singapore-based managers raised only $469 million, the
survey showed. New Japanese managers raised just $100 million,
while Australia-based funds collected $256 million.
(Reporting by Nishant Kumar; Editing by Kenneth Maxwell)