Hedge Funds

Chinese internet stocks propel US hedge fund to double-digit returns

Anti-virus software company Qihoo 360 Technology, one of Passport’s big holdings, climbed 190 per cent this year. Photo: Qihoo.com website

Booming Chinese internet stocks have fuelled Passport Capital’s double-digit gains this year at a time when many other hedge funds have delivered only modest returns.

Thursday, 5 December, 2013, 2:01pm

Gottex, Headland team up in boost for capital-starved Asian hedge funds

V-Nee Yeh will be a cornerstone investor in Headland Strategic. Photo: SCMP

Swiss fund-of-hedge-funds manager Gottex is teaming up with two former executives of Blackstone and Goldman Sachs to back Asian hedge fund managers starved of capital since the global financial crisis.

9 Oct 2013 - 2:01am

New tax exemption seen drawing hedge funds to Hong Kong

Hedge fund industry representative Philip Tye (right) says Hong Kong is an ideal place for funds to sell their products. Photo: May Tse

More hedge funds and private equity firms will set up in the city because of a government reform plan and the internationalisation of the yuan, industry representatives say.

3 Jun 2013 - 3:32am

Foreign hedge funds set to get yuan fundraising toehold

The QDLP scheme, designed for foreign hedge funds, complements the qualified foreign limited partner system Shanghai launched in 2011. Photo: Bloomberg

Shanghai has started the countdown to the introduction of a "qualified domestic limited partner" (QDLP) scheme, which will allow foreign hedge funds to raise yuan capital on the mainland to make investments in overseas securities.

19 Mar 2013 - 5:40am

Money managers looking for a ray of sunshine

In the first 11 months of this year, "sunshine" funds posted an average loss of 5.21 per cent against an 8.8 per cent drop in the stock market. Photo: Reuters

Will Beijing bring a ray of light to the mainland's "sunshine" private trust funds next year?

After a lacklustre performance this year, managers of the mainland's nearly 1,000 such funds - a prototype form of hedge fund - are keeping their fingers crossed in anticipation of a major liberalisation of the sector that could boost the domestic stock market.

27 Dec 2012 - 1:59am

Book review: The Hedge Fund Mirage

Book review: The Hedge Fund Mirage

You would think that a person who made a living allocating to hedge funds for more than a decade would take a kinder view of this sector. But Simon Lack, a money manager, earlier this year released a book with devastating conclusions about hedge funds.

17 Dec 2012 - 5:31am

Investment: volatility gains

US economist Benjamin Graham.

As the global economy resets, the prospects are for lower returns and increased volatility. The US stock market took 25 years to regain its highs after 1929. Japanese stocks (down 75 per cent from their peak) and property markets (down between 50 per cent and 70 per cent) have still not recovered 1989 levels.

26 Nov 2012 - 2:17am

Hedge funds cut bets in longest retreat since 2008

The Standard & Poor's GSCI Spot Index of commodities dropped 1.2 per cent this year.

Hedge funds have cut bullish commodity bets for a sixth straight week, the longest slump since the depths of the global recession four years ago, on mounting concern that economies are slowing.

20 Nov 2012 - 3:51am

Asia hedge funds lag behind global average

Most Asian funds have been focused on the equity space. Photo: Xinhua

The world's fastest economic growth is not helping Asia's hedge funds.

The Eurekahedge Asian index, which tracks 395 hedge funds, returned 1.6 per cent to August 31, the worst performer among regions and about half the 3.2 per cent gain by the global benchmark.

26 Sep 2012 - 9:31am

China's 'sunshine funds' may get Shanghai listing green light

Regulators have taken a cautious approach to hedge funds over the last two decades but may be prepared to relax the rules. Photo: AFP

The Shanghai Stock Exchange might let the mainland's hedge funds list on the bourse amid efforts by the country's securities regulator to boost institutional buying.

30 Aug 2012 - 3:17am

Over the hedge

Hedge funds are under the spotlight for the wrong reasons.

Since the collapse of Bernard Madoff's US$50 billion Ponzi scheme in December 2008, which showcased the risks of these complex, opaque trading vehicles, there has been a slew of further scandals.

28 Nov 2011 - 12:00am

It's a contest to find least ugly when it comes to hedge funds

According to data from Hedge Fund Research, a Chicago data provider, about 80 Asia-focused hedge funds experienced an average 2 per cent decline in August. By comparison, the average fund worldwide was down 3.5 per cent.

Three-quarters of Asian hedge funds reported losses, with some well into double digits.

10 Oct 2011 - 12:00am

Opportunities diminishing in trendy sector

Distressed debt became popular at the end of last year as a result of the credit crisis. America was among the first for investment managers to set up hedge funds that trade distressed debt to take advantage of marked-down loans, followed by Britain and Hong Kong.

20 Apr 2008 - 12:00am

Boom time continues, with HK the preferred choice

Hong Kong and the mainland have seen explosive growth in the size of their hedge fund industries, according to Hong Kong's top stock watchdog.

Martin Wheatley, chief executive of the Hong Kong Securities and Futures Commission (SFC), said the impact was particularly dramatic for China-focused hedge funds, where total assets had jumped 63 per cent in the past six months.

11 Jan 2008 - 12:00am

Tyche touch maintains luck despite new name

Globalisation means that even when you are a small fish in small pond, you still have to respect the rules of the big crocodiles out there.

A small Hong Kong wealth management firm that failed to trademark its name has learned that the hard way after being forced to change its name by a giant US hedge fund with the same name.

12 May 2007 - 12:00am