New Asian hedge fund assets in 2013 down a fifth at US$3.85b

[HONG KONG] Hedge funds launched in Asia in 2013 raised a fifth less than a year before as more managers launched funds with smaller sizes, according to a survey.

As funds found it tougher to attract investors in one of the industry's quietest years since the global financial crisis in 2008, new funds raised US$3.85 billion, according to the twice-a-year survey from AsiaHedge. That was down from a record US$4.74 billion in assets in 2012.

The number of new hedge funds increased by about a tenth to 71 in 2013 from 65 a year earlier, indicating that launch sizes got smaller.