Retail hedge funds have attracted a disappointing response in Hong Kong since the first fund was launched nearly a year ago, according to reports.
'It is pretty fair to say that retail hedge funds have been a damp squib in Hong Kong, as well as elsewhere in Asia, Pioneer Investments' senior vice-president and head of alternative investments in Asia, Patrick Tuohy told the Financial Times this week.
The investment expert blamed a 'rear view attitude to investment' in the region, explaining that: 'People keep looking at the past instead of looking forward to see what opportunities might be coming up'.
Although the five funds currently authorised by the Securities and Futures Commission (SFC) have performed less well recently, investor education is considered by many to be the key factor in increasing the popularity of hedge fund investment.
Sandra Lee, director and head of retail and marketing at HSBC Asset Management confirmed this, explaining to the FT that: 'It took 10 years to get Hong Kong people to start diversifying out of vanilla equities into mutual funds.'
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