UBS O’Connor, the UBS unit with $5.2bn of assets, plans to open its first Asia-focused hedge fund to investors later this year, said two people with knowledge of the matter.
Bloomberg reports that the fund, which started trading in August with internal money, is managed by Singapore-based John Bradshaw and David Perrett in New York, said the people, who asked not to be identified because the information is private.
O’Connor is among hedge-fund units of global banks to start their first Asia funds this year, answering investor demand for products focused on a region with faster economic growth, and diverse and often less efficient markets. Goldman Sachs Investment Partners is raising capital for a new Asian fund, two people with knowledge of the matter said last month.
'Asia has the highest growth in emerging markets and improving liquidity, meaning more opportunities to trade from the long and the short side', said Stephane Pizzo, managing partner at Singapore-based investment adviser Lotus Peak Capital Pte. 'It’s only natural for smart traders and investors to go where the opportunities are'.
'In terms of price-to-book ratio, Asia ex-Japan trades at a level comparable to Europe, while offering better growth, better demographics and larger inefficiencies', Pizzo added.
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image: © Martin Abegglen