In this episode of China Money Podcast, listen to Kevin Carter, co-founder and CEO of California-based Baochuan Capital Management, and Kenny Li, CEO of Shanghai-based KKM Capital discuss the pros and cons of international hedge funds investing in China’s A-share market through the QFII program; and how international hedge funds can raise money from China’s wealthy individuals and giant institutional investors. The comments are made at a joint event held by the Hedge Fund Association and Bloomberg on Jan 5, …
In this episode of China Money Podcast, Dalton Investments‘ Shanghai-based portfolio manager, Tony Hsu, explains to our host, Nina Xiang, how to execute the playbook of Warren Buffett in China, the reasons why Dalton’s Asian equity strategy has consistently beat the market and his outlook for the markets in 2013. Listen to the full interview in the audio podcast, or read an excerpt below. Q: First, give us a brief introduction of Dalton Investments and Dalton’s Asian equity strategy? A: …
Global alternative investment industry is now overseeing a record US$6.16 trillion in assets under management, of which US$600 billion were added during the year of 2013, according to data released by research firm Preqin.
Hedge funds globally sunk into their first negative territory since last August with a 0.17% loss in January, mainly due to a 0.47% drop of long/short funds, according to a report by private equity research firm Preqin.
Mid-sized hedge funds were the best performers in 2013 compared to other fund sizes, according to research firm Preqin. Mid-sized hedge funds with assets under management of US$100-$499 million and US$500-$999 million posted 12-month average returns of 13.79% and 13.71% respectively last year.
Hedge funds investing in Greater China posted another month of disappointing losses of 2.27% in April. That compared with the broader Asia ex-Japan hedge funds’ performance, which was down 0.70%, according to industry data tracker Eurekahedge.
Chicago-based hedge fund firm Citadel LLC has completed fundraising under China’s pilot Qualified Domestic Limited Partner (QDLP) program, becoming the first to raise RMB from qualified Chinese investors to invest in overseas markets, according to information posted on the Shanghai municipal government’s website.
Size is becoming more important in the global hedge fund industry. A total of 505 hedge fund managers with over US$1bn in asset under management (AUM) currently oversee a combined US$2.39 trillion, or 90% of the industry’s US$2.66 trillion total assets, according to a report from research firm Preqin.
In this episode of China Money Network, guest Alexander Mearns, CEO of hedge fund research firm Eurekahedge, talked to our host Nina Xiang in Singapore. He discussed the performance of Greater China-focused hedge funds, why it is less correlated to the market than the global hedge fund sector, and his outlook for the Chinese hedge fund space. Read an excerpt below, but be sure to listen to the full episode in audio. Don’t forget to subscribe to the podcast for …
Hedge funds investing in Greater China rebounded from their past two consecutive months of losses and returned 0.42% in May, though they remain in negative territory year-to-date with losses of 3.68%, according to the latest data from hedge fund research and data firm Eurekahedge.
Asia ex-Japan hedge fund managers performed the best during the month of May, returning 1.60%, supported by encouraging news out of China and India, according to the latest report from hedge fund research firm Eurekahedge.
American private equity and hedge funds, once only available to institutional investors, are moving down market to the retail marketplace, according to a new report by Boston-based research firm Cerulli Associates.
Greater China-focused hedge funds produced their second consecutive month of positive returns, up 1.56% in June. Though they remain in the red with a negative return of 1.38% for the first half of the year, according to data newly released by hedge fund research firm Eurekahedge.
Global alternative investment funds now manages a total of US$5.7 trillion in assets, with the top 100 alternative managers taking 58.9% of that total with assets-under-management of US$3.3 trillion in the year of 2013, according to a new report issued by global professional services company, Towers Watson.
Three out of five European institutional investors say the alternative investment funds they invested in over the last 10 years only partially met their return expectations, or failed to do so entirely, according to a new study by Hamburg-based investment firm Aquila Capital.
Greater China-focused hedge funds were the star performers during July, returning 3.82% following an overall disappointing start to the year. In contrast, Asian ex-Japan hedge funds gained 2.63% and global hedge funds saw a negative return of 0.12% last month, according to data released by hedge fund tracker Eurekahedge.
As global hedge funds attract capital from private and retail investors, capital from institutional investors including pension funds, foundations and endowments now represents 63% of total hedge fund assets, down from 65% at the end of 2013, according to a survey conducted by investment research firm Preqin.
Six years after the global financial crisis, the global hedge fund industry has recovered and gained new grounds, according to data from research firm Preqin. Assets-under-management by global hedge funds increased to US$2.9 trillion as of now, up from US$2.3 trillion at the end of 2008. There were 5,165 active hedge fund launched before or during 2008. That number went up to 5,882 after 2008.
Asia ex-Japan hedge funds lead global peers with year-to-date returns of 6.66%, due in large part to a 25.79% rise in Indian equities since the start of the year, according to the latest data released by hedge fund research firm Eurekahedge. Funds investing in North and Latin American came in second and third place, delivering returns of 5.21% and 3.71% respectively. Japan focused funds returned 2.92%, while European managers came in last place at 1.31%.
Indian e-commerce firm HomeShop18, backed by Chinese private equity firm SAIF Partners and Asia-focused hedge fund OCP Asia Limited, has withdrawn its planned NASDAQ IPO to raise after initially filing for the float in April this year, according to a regulatory filing. Its previously submitted IPO prospectus says that SAIF owns 25.2% and OCP Asia owns 6.4% of the company before the now scrapped listing.
Asia ex-Japan focused hedge funds are up 7.44% year-to-date until October, outperforming the MSCI Asia ex Japan Index by almost three percentage points, and also beating global hedge funds’ performance of up 3.45% during the same period, according to data tracker Eurekahedge. Asia ex-Japan hedge funds have also grown their asset base by US$11.2 billion so far this year, while total net asset flows this year for global hedge funds stood at US$55 billion with investors redeeming US$20.3 billion over …
Six months after completing a US$1.78 billion IPO on the NASDAQ, Beijing-headquartered Chinese e-commerce operator JD.com, Inc. is returning to the U.S. capital market with a plan to raise as much as US$500 million in a follow-on offering, according to a securities filing. JD.com is not selling any new shares in the proposed offering. The company’s existing financial backers are offloading shares as their lock-up period approaches expiration.
Six months after completing a US$1.78 billion IPO on the NASDAQ, Beijing-headquartered Chinese e-commerce operator JD.com, Inc. has priced a follow-on offering to sell 26 million American depositary shares (ADS) at US$23.80 apiece sold by three of its financial shareholders, according to a company announcement. Asia-focused hedge fund Hillhouse Capital Management, DST Global, an investment firm founded by Russian businessman Yuri Milner, and Chinese private equity firm Capital Today will receive total gross proceeds of approximately US$619 million.
The global Alternative investment industry scores another record year in 2014, with total assets increasing US$690 billion to reach a total sector assets of US$6.91 trillion, according to data released by data tracker Preqin. The alternatives industry, which includes private equity, hedge fund, private debt, real estate and infrastructure fund managers, registered asset gains larger than 2013’s US$648 billion increase.
Hong Kong-based Asia Frontier Capital, Singapore-based LyGH Capital, and CITIC Securities International Fund Management Limited are among the top 20 performing hedge funds globally in 2014, according to industry data tracker Preqin. Long-biased AFC Asia Frontier Fund recorded net returns of 37.58% last year, while GH China Century Fund and CITIC China Alpha II Fund Limited, both employ a long-short equity strategy, returned 37.19% and 35.88%, respectively.
Global investors see increasing opportunity in Asian hedge funds, with around 30% of respondents planning to increase investment in Asian managers over the next 12 months, up from 19% last year, according to Deutsche Bank’s annual Alternative Investment Survey that gathered insights from 435 hedge fund investors with over US$1.8 trillion in assets under management. In particular, a growing percentage of investors see opportunity in China, up to 25% from 11% year-on-year.
An investor consortium led by U.S. hedge fund Coatue Management LLC is to acquire a stake in a company that combines two leading Chinese taxi-hailing app makers, Didi Dache and Kuaidi Dache, for approximately US$600 million, according to media reports. The transaction values the combined company, which announced the merger in February and together takes about 99% of China’s taxi booking app market, at roughly US$8.75 billion. Coatue Management is to put in about US$250 million, while San Francisco-headquartered investment …
The Asia Pacific hedge fund industry has reached US$145 billion in aggregate assets-under-management at the end of 2014, up 30% from US$112 billion a year ago. Hedge funds based in the region have also outperformed global peers, returning 11.91% on an annualized basis over the past three years, compared to 8.88% for global hedge funds, according to a report by industry research firm, Preqin. Hong Kong, Singapore and Australia are the three big centers for the industry. Around 38% of …
Hedge funds investing in Asia ex-Japan have delivered the best returns globally and were up 2.08% in March, led by Greater China-focused funds that gained 4.85% for the month, according to data released by Eurekahedge. Greater China equities were a major winning theme, with the CSI 300 Index soared 13.74% amid speculation that the government would take steps to support faltering economic growth, while Chinese property developers rallied sharply as the government enacted policies to urge local authorities to restrict …
Asia ex-Japan hedge funds were the best performers in April, with gains of 8.26% for the month. In the region, Chinese managers posted the best returns, with the Eurekahedge Greater China Hedge Fund Index up 15.55%, according to a research report by Eurekehedge, a hedge fund data and research firm. Investor optimism remained high following the aggressive stimulus measures introduced by the Chinese central bank. The CSI 300 Index gained 17.85% in April, outperforming its previous month of gains.
U.S. investment firms Tiger Global Management LLC and SRS Investment Management LLC have agreed to invest US$150 million in New York Stock Exchange-listed Chinese rental car company, eHi Car Services Ltd., to help expand its fleet, according to a company announcement. Through a private placement deal, the two funds will subscribe to eHi’s newly issued shares worth US$134 million at US$6 per common share, or US$12 per American Depositary Share. The remaining portion of the deal are being sold by …