Alternative Investment Management Association
20 October 2006
Hong Kong, 20 October 2006: AIMA the global trade organisation for hedge funds today commented on the results of an SFC survey into hedge funds, carried out in June 2006.
The survey found that the number of hedge fund managers in Hong Kong has doubled in the past two years and that assets under management jumped by an amazing 268% to US$33.5 billion at the same time.
Commenting on the results, Christophe Lee, Chairman of AIMA’s Hong Kong Chapter said, “We welcome the SFC's survey into the size and scope of the Hong Kong hedge fund market. It confirms not only that the industry continues to thrive but its importance to South East Asia's economy as well as the local one.
The SFC has also recognised the limitations of regulation on what is a highly mobile industry but were none the less correct to emphasis continuing risk assessment and the need for further transparency.
Hedge funds provide market liquidity which is vital in an expanding economy and this has been recognised by the SFC. They have also called for close co-operation and partnership between the Regulator and key industry practitioners.
We are committed to working with the SFC in raising hedge fund standards across the board and providing the basis for sound regulation and future expansion of the industry.”
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For further information, please contact Christophe Lee, Chairman AIMA Hong Kong, firstname.lastname@example.org or tel +852 3667 8467 or Eoin Brophy, Hume Brophy Communications on +44 (0) 20 7499 8736
1. About AIMA
Founded in 1990, AIMA is a not-for-profit global trade association with corporate membership in 46 countries, including over 560 member companies in Europe. AIMA focuses specifically on hedge funds, managed futures and managed currency funds. More than 1000 corporate members (comprising 3500 individuals) enable the Association to create global tools for the benefit of its members, institutional investors and regulators. Its objectives are to increase investor education, transparency and promote due diligence and related sound practices, and to work closely with regulators and interested parties in order to promote the responsible use of alternative investments. AIMA’s membership includes fund of funds managers, institutional investors, hedge fund managers, prime brokers, exchanges, fund administrators, auditors, lawyers and other specialist service providers. Please visit us at www.AIMA.org.