HONG KONG: Asia-focused hedge funds attracted a net inflow of about $500 million in August, increasing their total inflows for 2011 to $7 billion, as investors shrugged off volatile markets and raised bets on the region’s fast growth, new data showed.
Flows this year has exceeded last year’s when these funds got net inflows of $4 billion, data released on Wednesday by Singapore-based hedge fund tracker Eurekahedge showed. European hedge funds saw net outflows worth $2.8 billion in August, while North American funds attracted net inflows of $4.8 billion, the data showed.
Total assets under management of the Asian hedge funds tracked by Eurekahedge rose to $136.1 billion at the end of August, the highest since December 2008. While cumulative hedge fund assets in Asia remain about $40 billion below their peak hit in December 2007, the industry is seeing a revival from the global financial crisis, with some funds attracting hundreds of million of dollars.
High-profile funds such as AzeAsian hedge funds, including those betting on Japan, received a net inflow for the 16th consecutive month in August, the data showed, helped by outperformance in 2011.
Link: Daily Times