Top Hedge Funds in Asia?
Saw another thread on the most prestigious HFs in the US and was wondering the same but in Asia, especially in HK/China. I understand that the industry is tiny compared to that in the US but what are some of the major players that are doing well? Does the prestige of the Tiger Cubs carry over to Asia?
Would also appreciate it if anyone can shed some light on the HF recruiting process in HK/China as well. Thanks
bump
Hillhouse
They're CCP's whore
This changes all the time. What do you want? Performance? Culture? Strategy? Location? Hillhouse is by far the biggest and (from my recollection) performance was very very good. Asia is far less "institutional" which is a nice way of saying there is a lot more beta and a lot more cowboys out there.
Thanks. Would love to hear about the strategies and cultures of more firms in HK/China. Just wanted to get a better feeling of the HF scene over there. Also curious about what a career in the Asian-Pacific HF industry typically looks like given its less institutional nature.
Apologies for being all over the place but would appreciate any insight. Thanks
Heavily equity biased, typically net long. More "fundamental" in nature usually. Though the level of analysis is often thin/meaningless regardless of what HF/prime brokers say.. why? This is because there is tons of family money, insider/quasi-insider trading, retail flow, liquidity gaps and lots of "connected" (read rich or govt types) in the industry. With some exceptions, Asian markets are "trading" markets more so than "investment" markets for a number of reasons.
Culture is like with many things in Asia, top-down driven by the founder/founders (usually it's one guy) with most others being soldiers (albeit potentially very well compensated). Can be more entrepreneurial as the barriers to starting up can be lower. There are new funds all the time and all you need is one backer to get up off the ground.
A career in Asia is like a career in most other places with one exception being that it is tougher to move back to the "west" once you have been out in Asia for a while. You get typecast and lumped in with "less talented/trained/potentially cowboy-ish" label if you want to return sans an MBA/connections with a company etc. Leaving Asia can be very tough from that standpoint. I think I have written about this many times before, so a search may help you.
That is very helpful, much appreciated
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