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Hong Kong’s hedge fund industry has continued to grow, according to a survey report published today by the Securities and Futures Commission (SFC).
The “Report of the Survey on Hedge Fund Activities of SFC-licensed Managers/Advisers” (Note 1) shows that hedge fund assets under management (AUM) in Hong Kong increased 38% from the time of the last survey in September 2010 to US$87.1 billion as of 30 September 2012. The major findings are summarised below:
- The number of hedge funds managed by the SFC-licensed hedge fund managers in Hong Kong surged to 676 as of 30 September 2012, up more than 25% compared to 538 funds as of September 2010.
- The surveyed hedge fund managers invested mainly in the Asia Pacific region using equity long/short strategies and multi-strategies. As of 30 September 2012, 65.4% of the total AUM was invested in the Asia Pacific markets. Hong Kong and mainland China accounted for 27.5%.
- 94% of investors in hedge funds were from outside of Hong Kong. Most were funds of hedge funds, insurance companies and other institutional investors.
The survey was conducted in conjunction with the data collection exercise coordinated by the International Organization of Securities Commissions concerning global hedge fund activities.
The full survey report is available on the SFC website at www.sfc.hk.
Note:
- The survey questionnaire was sent to 348 licensed corporations which were identified as hedge fund managers as of 30 September 2012. They were asked to provide information and data about their hedge fund portfolios managed in Hong Kong as of 30 September 2012. The response rate was 100% amongst active managers. Two managers reported that they would cease business and therefore did not report any AUM.
