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Singapore's hedge fund assets rise at slowest in three years

Thursday, October 6, 2016 - 13:41
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Assets under management by Singapore hedge funds rose 11 per cent to S$119 billion last year, according to the "2015 Singapore Asset Management Survey" published Thursday by the Monetary Authority of Singapore.

[SINGAPORE] Singapore's hedge fund assets grew at the slowest pace in three years in 2015 as returns shrank and investors redeemed money.

Assets under management by Singapore hedge funds rose 11 per cent to S$119 billion last year, according to the "2015 Singapore Asset Management Survey" published Thursday by the Monetary Authority of Singapore.

That's down from the 21 per cent growth recorded in each of the previous two years.

Investors started to withdraw money in the region last year as a slump in China's stock market dented returns among Asian hedge funds.

The Eurekahedge Asian Hedge Fund Index gained 6.4 per cent in 2015, the lowest since 2011.

Withdrawals have accelerated in 2016, with investors redeeming US$13.7 billion from Asia-focused hedge funds in the first eight months of this year, accounting for 12 per cent of regional industry assets, according to eVestment.

Total assets managed by investment firms in Singapore rose 9 per cent to S$2.6 trillion in 2015, according to the report.

BLOOMBERG