Preqin Special Report: Hedge Funds In Asia!Pacific

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PREQIN SPECIAL REPORT:HEDGE FUNDS IN ASIA-PACIFICJULY 2017alternative assets. intelligent data.

PREQIN SPECIAL REPORT: HEDGE FUNDS IN ASIA-PACIFICFOREWORDThe Asia-Pacific hedge fund industry continues to evolve as regulatory change and increasing institutionalization of the sectorexposes growing numbers of countries and investor types in the region to opportunities in hedge funds. Asia-Pacific is home to 148bn in hedge fund AUM, which is distributed across 910 hedge funds and fund of hedge funds firms. Funds in the region tend tobe both newer and smaller than those in the established regions of North America and Europe. In addition, the industry in the regionhas still yet to reach the share of wealth contributed by the wider economy in Asia-Pacific; as a result, there remains the potential forsubstantial growth in the future.There has been encouraging performance recorded by Asia-Pacific-based funds over the past 12 months: hedge funds in the regionhave made gains of 10.70% over the past year to May 2017. Some countries have performed even better: managers based in India, forinstance, have added 17.49% over the past 12 months (as at May 2017).Asia-Pacific continues to expand in regards to both the number of investors actively investing in hedge funds as well as the size of theirportfolios. There are 587 institutional investors from the region active in hedge funds, collectively investing an estimated 202bn in theasset class. Among these are investors that have made their first investments since the start of 2016, including South Korea’s NationalPension Service.In this Preqin Special Report: Hedge Funds in Asia-Pacific, we analyze the Asia-Pacific region in terms of of its hedge fund activity as awhole, and take a closer look at the leading countries for hedge fund activity across the region. We examine the investor universe in theregion and fund manager activity, and also provide information on leading investors and funds in each country.We hope that you find this report useful and welcome any feedback you have. For more information, please visit www.preqin.com orcontact info@preqin.com.p3p5p6p7p8p9p10p12p13p14Hedge Funds in Asia-PacificHong KongAustraliaChinaSingaporeJapanSouth KoreaIndiaNew ZealandRest of Asia-PacificAll rights reserved. The entire contents of Preqin Special Report: Hedge Funds in Asia-Pacific, July 2017 are the Copyright of Preqin Ltd. No part of this publication or any information contained in it may be copied, transmitted by any electronic means, or stored in anyelectronic or other data storage medium, or printed or published in any document, report or publication, without the express prior written approval of Preqin Ltd. The information presented in Preqin Special Report: Hedge Funds in Asia-Pacific, July 2017 is for informationpurposes only and does not constitute and should not be construed as a solicitation or other offer, or recommendation to acquire or dispose of any investment or to engage in any other transaction, or as advice of any nature whatsoever. If the reader seeks advice ratherthan information then he should seek an independent financial advisor and hereby agrees that he will not hold Preqin Ltd. responsible in law or equity for any decisions of whatever nature the reader makes or refrains from making following its use of Preqin Special Report:Hedge Funds in Asia-Pacific, July 2017. While reasonable efforts have been made to obtain information from sources that are believed to be accurate, and to confirm the accuracy of such information wherever possible, Preqin Ltd. does not make any representation orwarranty that the information or opinions contained in Preqin Special Report: Hedge Funds in Asia-Pacific, July 2017 are accurate, reliable, up-to-date or complete. Although every reasonable effort has been made to ensure the accuracy of this publication Preqin Ltd. doesnot accept any responsibility for any errors or omissions within Preqin Special Report: Hedge Funds in Asia-Pacific, July 2017 or for any expense or other loss alleged to have arisen in any way with a reader’s use of this publication.2 Preqin Ltd. 2017 / www.preqin.com

DOWNLOAD DATA PACK: www.preqin.com/HFAP17HEDGE FUNDS IN ASIA-PACIFICActive Asia-Pacific-Based Hedge Fund Managers and Institutional Investors by Sub-Region:2CENTRAL ASIA2125GREATER CHINA450 148bn18SIZE OF THE HEDGEFUND INDUSTRY INASIA-PACIFICSOUTH ASIA42238FAR EAST280205AUSTRALASIA138No. of Institutional InvestorsNo. of Hedge Fund Managers3

PREQIN SPECIAL REPORT: HEDGE FUNDS IN ASIA-PACIFICFig. 1: Capital-Weighted Breakdown of Institutional Investors in Asia-PacificSovereign Wealth Fund2024%Private Sector Pension Fund6%184180Dec-15Asset ManagerDec-144%2%2%2%CAPITAL INVESTED IN HEDGE FUNDS BYASIA-PACIFIC-BASED INSTITUTIONALINVESTORS, 2013 - 2016168Insurance CompanySuperannuation Scheme8%Bank54%Public Pension Fund8%Wealth ManagerDec-13OtherSource: Preqin Hedge Fund OnlineFig. 2: Asia-Pacific Based Hedge Funds by Location3%1%Fig. 3: Asia-Pacific Based Hedge Funds by Type/StructureHong Kong5% 2%Dec-16Family Office10%Singapore4% 3%6%Hedge Fund5%Australia9%Fund of Hedge FundsChina42%JapanCTAIndia13%UCITSSouth KoreaNew Zealand87%20%Other APACSource: Preqin Hedge Fund OnlineSource: Preqin Hedge Fund OnlineFig. 4: Most Active Asia-Pacific Countries in the Hedge Fund IndustryNo. of Active InstitutionalInvestorsAverage Current Allocation toHedge Funds (As a % of AUM)No. of HedgeFund ManagersHedge Fund AUM( bn)Hong 018.9Singapore6414.118117.6Japan11813.0569.9South Korea443.7285.6India175.3401.2New Zealand198.19-CountrySource: Preqin Hedge Fund Online4 Preqin Ltd. 2017 / www.preqin.com

DOWNLOAD DATA PACK: www.preqin.com/HFAP17HONG KONG368 63bn92Number of active Hong Kong-based hedgefund managers.Size of Hong Kong’s hedgefund industry.Number of Hong Kong-based institutionalinvestors active in hedge funds.12.24%40%13.9%12.24%of all Asia-Pacific fund managers arebased in Hong Kong.Average allocation to hedge fundsof Hong Kong-based investors.12-month return of all Hong Kong-basedhedge funds (as at May 2017).Fig. 5: Hong Kong-Based Hedge Funds by Top-Level StrategyEquity Strategies6% 1%6%Event Driven Strategies6%Multi-StrategyMacro Strategies15%57%Relative Value StrategiesCredit StrategiesManaged Futures/CTA9%Niche StrategiesHong Kong, home to 63bn of hedge fund AUM and 368 fundmanagers, is the centre of the hedge fund industry in AsiaPacific. In fact it is the third largest country globally, in terms ofhedge fund capital managed, behind the US and the UK. HongKong has been a long-established centre for hedge fund activity;for instance, the largest hedge fund manager in the country, ValuePartners, was established in 1993 and today runs approximately 15bn in AUM. Its Value Partners China A-Share Select Fund - ClassA GBP Unhedged fund is the third best performing hedge fund inHong Kong in the 12 months to May 2017, adding gains of 34.20%during that period. There are 92 institutions actively investing inhedge funds in Hong Kong; among them is Legacy Advisors, afamily office with almost 100mn invested in hedge funds, whichis planning to make further investments over the rest of 2017 andearly 2018.Source: Preqin Hedge Fund OnlineFig. 6: Hong Kong-Based Investors Active in Hedge Funds byType2%6%31%12%InvestorCurrent Allocation to HF ( mn)Family OfficeHospital Authority Provident FundScheme358Fund of Hedge FundsManagerWealth ManagerLegacy Advisors96Chinese University of Hong KongBursary725%2%Fig. 7: Notable Hong Kong-Based Institutional Investors inHedge FundsAsset ManagerSource: Preqin Hedge Fund OnlineInvestment CompanyFig. 8: Largest Hong Kong-Based Hedge Fund Managers by AUMEndowment Plan20%22%ManagerAssets under ManagementInsurance CompanyValue Partners 14.5bn as at 31 March 2017OtherPAG Absolute ReturnsMyriad Asset ManagementSource: Preqin Hedge Fund Online 6.0bn as at 31 May 2017 4.0bn as at 31 March 2017Source: Preqin Hedge Fund Online5

PREQIN SPECIAL REPORT: HEDGE FUNDS IN ASIA-PACIFICAUSTRALIA124 30bn185Number of active Australia-based hedgefund managers.Size of Australia’s hedgefund industry.Number of Australia-based institutionalinvestors active in hedge funds.8.12%32%7.5%8.12%of all Asia-Pacific institutionalinvestors are based in Australia.Average allocation to hedge fundsof Australia-based investors.12-month return of all Australia-basedhedge funds (as at May 2017).Australia, the world’s 13th largest economy and home to 24million people, hosts the largest number of institutionalinvestors in Asia-Pacific active in hedge funds today. Preqintracks 185 institutional investors within Australia with currentportfolios of hedge funds. The largest of these, Future Fund,invests nearly 15bn in the asset class. Although the largestinvestor is a sovereign wealth fund, superannuation schemesrepresent half of all of the active hedge fund investors in Australiatracked by Preqin. There is a large number of hedge fundmanagers to serve this active community of investors; Preqintracks 124 fund managers in Australia, which collectively manageassets of approximately 30bn. The largest of these, PlatinumAsset Management, was established in 1994 and has assets ofapproximately 18bn. Although much of these assets come fromAustralia-based investors, it also provides solutions to institutionsin Europe and North America.Fig. 9 Australia-Based Hedge Funds by Top-Level StrategyFig. 10: Notable Australia-Based Institutional Investors in HedgeFundsFig. 12: Australia-Based Investors Active in Hedge Funds by TypeInvestorEvent Driven Strategies3%Multi-StrategyMacro Strategies11%57%5%14,888Victorian Funds ManagementCorporation2,105MLC1,818Managed Futures/CTA4%Niche StrategiesSource: Preqin Hedge Fund OnlineSuperannuation Scheme2%Asset Manager3%Wealth ManagerFig. 11: Largest Australia-Based Hedge Fund Managers by AUM9%50%9%Fund of Hedge FundsManagerFamily OfficeInsurance CompanyAssets under ManagementPlatinum Asset Management 17.8bn as at 31 May 2017Ellerston Capital 3.9bn as at 31 May 201718%BankOther 3.1bn as at 31 March 2017Source: Preqin Hedge Fund Online65%4%Source: Preqin Hedge Fund OnlineMacquarie Investment ManagementRelative Value StrategiesCredit Strategies6%Current Allocation to HF ( mn)Future FundManagerEquity Strategies2%12%Source: Preqin Hedge Fund Online Preqin Ltd. 2017 / www.preqin.com

DOWNLOAD DATA PACK: www.preqin.com/HFAP17CHINA80 19bn27Number of active China-based hedgefund managers.Size of China’s hedgefund industry.Number of China-based institutionalinvestors active in hedge funds.12.70%3rd9.7%12.70%China has the third highest AUM of allcountries in Asia-Pacific.Average allocation to hedge funds ofChina-based investors.12-month return of all China-basedhedge funds (as at May 2017).Fig. 13: China-Based Hedge Funds by Top-Level StrategyEquity Strategies7%7%Event Driven StrategiesMulti-Strategy11%Macro Strategies4%Relative Value Strategies5%63%3%China hast the third largest hedge fund industry in AsiaPacific; with assets of approximately 19bn, only its specialadministrative region of Hong Kong and Australia exceed it interms of hedge fund capital. As the regulatory environment withinChina continues to evolve, allowing more possibilities for hedgefunds, it has the potential to eclipse both Hong Kong and Australiain the future. One of the largest fund managers in the country,Hillhouse Capital Management, manages almost 18bn and wasestablished in 2005.Credit StrategiesManaged Futures/CTANiche StrategiesThe 27 China-based institutional investors tracked by Preqininvesting in hedge funds allocate significant sums. Among these isChina Investment Corporation which is estimated to invest 31bnin hedge funds.Source: Preqin Hedge Fund OnlineFig. 14: China-Based Investors Active in Hedge Funds by TypeFamily Office4% 4%Wealth ManagerInvestorChina Investment CorporationCMBC Private Banking22%7%Fig. 15: Notable China-Based Institutional Investors in HedgeFundsCurrent Allocation to HF ( mn)30,805*1,972Asset Manager*Estimated.7%Source: Preqin Hedge Fund OnlineCorporate InvestorInvestment Company11%Sovereign Wealth Fund19%11%Fig. 16: Largest China-Based Hedge Fund Managers by AUMFund of Hedge FundsManagerGovernment AgencyManagerHillhouse Capital Management 17.8bn as at 31 December 2016Investment BankSplendor Capital Management 497mn as at 31 May 2017CSV Capital Partners 184mn as at 31 May 201715%Source: Preqin Hedge Fund OnlineAssets under ManagementSource: Preqin Hedge Fund Online7

PREQIN SPECIAL REPORT: HEDGE FUNDS IN ASIA-PACIFICSINGAPORE181 18bn64Number of active Singapore-basedhedge fund managers.Size of Singapore’s hedgefund industry.Number of Singapore-based institutionalinvestors active in hedge funds.8.51%4th14.1%8.51%Singapore has the fourth highest AUMof all countries in Asia-Pacific.Average allocation to hedge fundsof Singapore-based investors.12-month return of all Singapore-basedhedge funds (as at May 2017).Over 180 hedge fund managers, running assets approaching 18bn, reside in Singapore. Among the largest of these isGraticule Asset Management Asia, which was originally part of theLiquid Markets Business of Fortress Investment Group (Fortress).It became independent of Fortress in January 2015, althoughFortress continues to hold a significant minority equity stakein the firm. It has investors globally, including Texas MunicipalRetirement System.Fig. 17: Singapore-Based Hedge Funds by Top-Level Strategy4%Equity Strategies11%Event Driven Strategies5%Multi-Strategy47%14%Macro StrategiesRelative Value StrategiesGIC, 350bn the sovereign wealth fund, is among the 10 largestinvestors in hedge funds globally. It currently invests upwards of 10.5bn in hedge funds, with one of its most recent investmentsin newly founded Singapore-based Lauro Asset Management.There are a further 63 institutions in Singapore that actively investin hedge funds.Credit StrategiesManaged Futures/CTA15%4%Niche StrategiesSource: Preqin Hedge Fund OnlineFig. 18: Notable Singapore-Based Institutional Investors inHedge FundsInvestorCurrent Allocation to HF ( mn)GIC10,500Leonie Hill Capital1,380NUS Endowment FundFig. 20: Singapore-Based Investors Active in Hedge Funds byTypeWealth Manager3%3%Family Office6%794Source: Preqin Hedge Fund Online6%32%9%Endowment PlanFig. 19: Largest Singapore-Based Hedge Fund Managers byAUMManagerAssets under ManagementDymon Asia Capital 5.7bn as at 30 April 2017Graticule Asset Management Asia 4.6bn as at 31 May 2017Quantedge Capital 1.3bn as at 31 May 2017Source: Preqin Hedge Fund Online8Fund of Hedge FundsManagerAsset ManagerSovereign Wealth Fund15%Investment Company26%OtherSource: Preqin Hedge Fund Online Preqin Ltd. 2017 / www.preqin.com

DOWNLOAD DATA PACK: www.preqin.com/HFAP17JAPAN56 9.9bn118Number of active Japan-basedhedge fund managers.Size of Japan’s hedgefund industry.Number of Japan-based institutionalinvestors active in hedge funds.10.47%2nd13.0%10.47%Japan has the second largest number ofinstitutional investors in Asia-Pacific.Average allocation to hedge funds ofJapan-based investors.12-month return of all Japan-basedhedge funds (as at May 2017).Fig. 21: Japan-Based Hedge Funds by Top-Level Strategy1%2%Equity StrategiesEvent Driven Strategies19%Multi-StrategyMacro Strategies49%10%Relative Value StrategiesCredit Strategies9%With 118 institutions actively investing in hedge funds fromwithin Japan’s shores, it is only Australia from Asia-Pacificthat has more investors with hedge fund portfolios. Despitehaving such a large captive audience of hedge fund investors,there are only 57 hedge fund managers in the country, collectivelyrunning approximately 10bn. In contrast, Japan’s institutionalinvestors active in hedge funds invest significant sums in theasset class; Preqin estimates these investors collectively represent22% of all the capital invested by institutions across the entireAsia-Pacific region. Among these is Tokyo-based Pension FundAssociation which invests more than 4bn in hedge funds.Managed Futures/CTA10%Niche StrategiesSource: Preqin Hedge Fund OnlineFig. 22: Japan-Based Investors Active in Hedge Funds by Type3%2%8%2%Private Sector Pension FundInvestorAsset ManagerPension Fund AssociationInsurance Company10%51%11%Fig. 23: Notable Japan-Based Institutional Investors in HedgeFunds4,209Dai-ichi Life Insurance2,999Source: Preqin Hedge Fund OnlineFig. 24: Largest Japan-Based Hedge Fund Managers by AUMManagerFamily Office13%OtherAssets under ManagementGCI Asset Management 1.2bn as at 31 May 2017Symphony Financial Partners 1.0bn as at 31 May 2017United Managers JapanSource: Preqin Hedge Fund Online4,226Japan Post BankFund of Hedge FundsManagerBankPublic Pension FundCurrent Allocation to HF ( mn) 596mn as at 30 November 2016Source: Preqin Hedge Fund Online9

PREQIN SPECIAL REPORT: HEDGE FUNDS IN ASIA-PACIFICSOUTH KOREA28 5.6bn44Number of active South Korea-basedhedge fund managers.Size of South Korea’s hedgefund industry.Number of South Korea-based institutionalinvestors active in hedge funds.20163.7%National Pension Service made its firstinvestment in 2016.Average allocation to hedge funds ofSouth Korea-based investors.Many institutional investors in South Korea have only beguninvesting hedge funds relatively recently as comparedto other investors across Asia-Pacific. The mean year of firstinvestment in hedge funds of the 44 investors in South Koreatracked by Preqin is 2013; in comparison, the average investorbegan its hedge fund program in 2006 and 2004 in Australia andJapan respectively. Recent investors from South Korea includeNational Pension Service, which made its first investment in 2016when it hired Blackrock and Grosvenor Capital Management to runcustomized funds of hedge funds on its behalf. On average, SouthKorea-based investors allocate around 4% of their total assets toinvestments in hedge funds; however, given many are in the earlystages of building out these portfolios, there is potential for furtherinflows. For instance, its neighbours in Japan dedicate an averageof 13% of their investment portfolios to hedge funds.Fig. 25: South Korea-Based Hedge Funds by Top-Level StrategyEquity Strategies7%4%Event Driven StrategiesMulti-StrategyMacro Strategies33%56%Relative Value StrategiesCredit StrategiesManaged Futures/CTANiche StrategiesSource: Preqin Hedge Fund OnlineFig. 26: Notable South Korea-Based Institutional Investors inHedge FundsInvestorKorea Investment CorporationCurrent Allocation to HF ( mn)996Korea Post Savings572Source: Preqin Hedge Fund OnlineFig. 27: Largest South Korea-Based Hedge Fund Managers byAUMANDA Asset ManagementAssets under Management 1.3bn as at 31 May 2017QUAD Investment Management 800mn as at 31 May 2017Source: Preqin Hedge Fund OnlinePublic Pension FundInsurance Company25%Bank5%Asset Manager5%Fund of Hedge FundsManagerCorporate Investor9%Investment Bank9%23%Government Agency 1.9bn as at 30 April 2017SPARX Asset Management Korea102%2%2%5% 2%4,210National Pension ServiceManagerFig. 28: South Korea-Based Investors Active in Hedge Funds byType11%Sovereign Wealth FundSource: Preqin Hedge Fund Online Preqin Ltd. 2017 / www.preqin.com

Source new investorsBe the first to know about investors’ fund searchesView performance of individual fundsCustomize performance benchmarks to meet your needsAccess profiles for over 33,000 hedge fundsConduct market research and competitor analysisDevelop new businessRegister for demo access to find out how Preqin’s Hedge Fund Online can help your business:www.preqin.com/hedgealternative assets. intelligent data.

PREQIN SPECIAL REPORT: HEDGE FUNDS IN ASIA-PACIFICINDIA40 1.2bn17Number of active India-based hedgefund managers.Size of India’s hedgefund industry.Number of India-based institutionalinvestors active in hedge funds.17.49%5.3%17.49%51.66%Average allocation to hedge funds ofIndia-based investors.12-month return of all India-basedhedge funds (as at May 2017).Redart Focus Fund was the top performingfund in the 12 months to May 2017.The Indian hedge fund industry is relatively small, with 41managers collectively controlling 1.2bn in capital. The largestIndia-based hedge fund manager tracked by Preqin is MalabarInvestment Advisors, established in 2008. Its Malabar India Fundis one of the top performing India-based hedge funds in the 12months to May 2017, having added gains of 31.93% over thistimeframe. The fund pursues an equity strategy, a common themeamong India-based hedge funds – 71% of all hedge funds in Indiaalso pursue an equity strategy.Fig. 29: India-Based Hedge Funds by Top-Level StrategyEquity Strategies3%11%Event Driven Strategies5%Multi-StrategyMacro Strategies10%Relative Value StrategiesCredit StrategiesMore than half of all of the institutional investors tracked byPreqin in India fall into the category of institutional private wealth;family offices and wealth managers collectively represent almost60% of all investors in the country tracked by Preqin.71%Managed Futures/CTANiche StrategiesSource: Preqin Hedge Fund OnlineFig. 30: Notable India-Based Institutional Investors in HedgeFundsInvestorFig. 32: India-Based Investors Active in Hedge Funds by TypeCurrent Allocation to HF ( mn)IIFL Capital300Client Associates200Source: Preqin Hedge Fund OnlineFamily Office6%6%30%Wealth Manager12%Corporate InvestorInsurance CompanyFig. 31: Largest India-Based Hedge Fund Managers by AUMManager17%Asset ManagerAssets under ManagementMalabar Investment Advisors 374mn as at 31 May 2017Infina Finance 300mn as at 31 May 2017Right Horizons Financial Services 103mn as at 30 April 201729%Investment BankSource: Preqin Hedge Fund OnlineSource: Preqin Hedge Fund Online12 Preqin Ltd. 2017 / www.preqin.com

DOWNLOAD DATA PACK: www.preqin.com/HFAP17NEW ZEALAND9198.1%Number of active New Zealandbased hedge fund managers.Number of New Zealand-based institutionalinvestors active in hedge funds.Average allocation to hedge funds ofNew Zealand-based investors.8.12% 748mn8.12%New Zealand Superannuation Fund is among thelargest hedge fund investors in New Zealand.12-month return of all New Zealand-basedhedge funds (as at May 2017).Fig. 33: Notable New Zealand-Based Institutional Investors inHedge FundsInvestorCurrent Allocation to HF ( mn)New Zealand Superannuation Fund748Foundation North194Source: Preqin Hedge Fund OnlineFig. 34: New Zealand-Based Hedge Funds by Top-Level StrategyAlthough relatively small, New Zealand remains an importantpart of the hedge fund landscape. Superannuation schemesrepresent approximately a third of the investors based in thecountry. Among these is Foundry Asset Management, anAuckland-based asset manager that is looking to invest in hedgefunds in the next 12 months. One of the largest investors in theregion is the sovereign wealth fund New Zealand SuperannuationFund, which invests 748mn.Fig. 35: New Zealand-Based Investors Active in Hedge Funds byTypeSuperannuation SchemeEquity Strategies13%5%Event Driven StrategiesMulti-Strategy5%11%32%Fund of Hedge FundsManagerFoundationMacro Strategies50%25%Relative Value StrategiesWealth Manager10%Credit StrategiesAsset ManagerManaged Futures/CTA12%Niche StrategiesSovereign Wealth Fund16%21%Family OfficeSource: Preqin Hedge Fund OnlineSource: Preqin Hedge Fund Online13

PREQIN SPECIAL REPORT: HEDGE FUNDS IN ASIA-PACIFICREST OF ASIA-PACIFIC10.97%24 1.8bn10.97%Number of active hedge fund managersbased in Rest of Asia-Pacific.Size of the hedge fund industryin Rest of Asia-Pacific.12-month return of all Rest of Asia-Pacificbased hedge funds (as at May 2017).The rest of the countries in Asia-Pacific not covered inthis report are emerging as destinations for hedge fundinvestment. Taiwan and Malaysia are perhaps the most prominentcountries within this group, in regards to hedge fund activity;combined, these represent 48% of all investors from Rest ofAsia-Pacific. Among these is Taiwan-headquartered Cathay LifeInsurance, which invests nearly 1bn in hedge funds. Also inTaiwan is UG Investment Advisers, which was established in 1998and runs approximately 1.2bn in AUM. Its UG Greater ChinaMulti-Strategy Fund - Class A has added gains of 22.44% over the12 months to May 2017.Fig. 36: Rest of Asia-Pacific-Based Hedge Funds by Top-LevelStrategyFig. 37: Rest of Asia-Pacific-Based Investors Active in HedgeFunds by Type6%Equity Strategies3% 3%5%5%Event Driven StrategiesMulti-Strategy12%Wealth Manager5%Insurance Company24%Public Pension Fund9%Family OfficeMacro StrategiesRelative Value StrategiesBank9%Sovereign Wealth FundCredit Strategies76%19%10%Managed Futures/CTACorporate Investor14%Niche StrategiesGovernment AgencySource: Preqin Hedge Fund OnlineSource: Preqin Hedge Fund OnlineFig. 38: Rest of Asia-Pacific-Based Investors Active in HedgeFunds by stment CompanyFig. 39: Notable Rest of Asia-Pacific-Based Institutional Investorsin Hedge FundsInvestorCurrent Allocation to HF ( mn)Cathay Life Insurance924Thailand Government Pension Fund771Bangkok Bank101Source: Preqin Hedge Fund OnlineKazakhstan14%19%14%Federated States ofMicronesiaBruneiSri LankaSource: Preqin Hedge Fund Online14 Preqin Ltd. 2017 / www.preqin.com

Preqin MobileFor Investment Professionals on the GoPrivate Equity Real Estate Hedge FundsüQuickly prepare for meetings withinvestors or managers while on theroadüEasily access key investor ormanager info during internalmeetingsüSwiftly find key investor andmanager information when puttingtogether presentationsKey Datasets:-Investors:-Fund Managers:Assets, allocations, fund portfolios,typical investment amounts, futureplans and moreStrategies, funds, fund terms,performance, known investorsand morealternative assets. intelligent data.

alternative assets. intelligent data.PREQIN SPECIAL REPORT:HEDGE FUNDS IN ASIA-PACIFICJULY 2017PREQINAlternative Assets Data & IntelligencePreqin provides information, products and services to fund managers,investors, consultants and service providers across six main areas: Investors – Allocations, Strategies/Plans and Current PortfoliosFund Managers – Funds, Strategies and Track RecordsFunds – Fundraising, Performance and Terms & ConditionsDeals/Exits – Portfolio Companies, Participants and FinancialsService Providers – Services Offered and Current ClientsIndustry Contacts – Direct Contact Details for Industry ProfessionalsNew York London Singapore San Francisco Hong Kong Manilainfo@preqin.comwww.preqin.com

Source: Preqin Hedge Fund Online Hong Kong, home to 63bn of hedge fund AUM and 368 fund managers, is the centre of the hedge fund industry in Asia Paci c. In fact it is the third largest country globally, in terms of hedge fund capital managed, behind the US and the UK. Hong Kong has been a longestablished centre for hedge fund activity;

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