Asia Set to grab One-Fifth of Global Hedge Fund Flows |
Date: Tuesday, March 2, 2010
Author: Reuters
Asia is likely to capture as much as 20% of
the total global inflows into hedge funds in 2010 with investors drawn
to the region's stellar performance last year, a senior executive at
Bank of America's Merrill Lynch unit said on Monday [March 1].
"Asia is still underrepresented in global hedge fund allocations,"
James Fallon, director, financing sales at BofA Merrill Lynch, told the
Reuters Private Equity and Hedge Funds Summit.
Asia accounts for less than 10% of total global hedge fund
assets at present. But hedge funds in the region rose nearly 40% in
2009, far outstripping the growth in their U.S. and European
counterparts.
"Last year this time there was very little money coming in.
But some of the institutions that hadn't been participants in hedge
funds directly in years past are now doing so," Mr. Fallon told the
Summit, held at the Reuters office in Hong Kong.
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