While the beginning of 2017 did not look all that good for the emergence of new hedge funds in Asia, the tables seem to be substantially turning. One of the ways in which they are doing this according to a recent Bloomberg article, is by “striking out on their own.” Examples of this action include: Moore Capital Management, Millennium Management and Soros Fund Management.
An individual who has made it in startups in China is also launching his own hedge fund. Using $100 million of his own money, Qian Yongqiang who has been successful in tech start ups and Chinese education is now established QQQ Capital Fund. Based in Singapore, the firm will begin trading in April as a long-short fund in education, technology and tourism. The annul return being targeted is 15 percent. at the age of 21, Qian was the co-founder of New Oriental Education & Technology Group Inc. which today has a market capitalization of $14.7 billion.
According to Global Co-Head of Prime Finance and EMEA Head of Equity Trading at Deutsche Bank, Ashley Wilson:
“Investors appear more optimistic in their outlook for Europe and Asia. Our [Deutsche Bank’s 16th annual Alternative Investment] Survey indicates that investor interest in European hedge funds has more than doubled year on year and that thirty per cent of respondents are planning to add exposure to Asia. These regions provide more alpha opportunities across multiple countries with diverse market structures.”