![]() ![]() These outflows were driven by small and medium-sized hedge funds managing US$500m or less. Net redemptions across the Hong Kong hedge fund industry came to about US$1bn in the third quarter, the highest level since Q2 2009, in the wake of the financial crisis, according to data from Eurekahedge. It’s been a bad few months for nascent Hong Kong funds. Hoyle also blamed the decline in hiring on there being “fewer new small startups” wanting to build a core workforce. “They know who they like and will stay in touch with them until the time is right,” he adds. “The large funds in Hong Kong are always on the lookout for talent and can still write big cheques if needed, but this year they’re definitely in less of a hurry to hire,” says Will Tan, managing partner at headhunters Principle Partners. The top-five Hong Kong hedge funds by 2018 assets under management are Eastspring Investments, Och-Ziff Capital Management, Man Investments, Capula Investment Management, and GAM Fund Management. Trader turned-headhunter Matt Hoyle, adds that hedge fund hiring is “slightly down” on last year, partly because “all the big players already have the people they need”. O ne buy-side recruiter, who asked not to be named, says he is handling about 15% to 20% fewer vacancies than 12 months ago. The decline comes as the local hedge fund sector suffered its biggest quarterly outflow since the 2008 financial crisis. Front-office recruitment in the Hong Kong hedge fund sector is down year-on-year, say recruiters in the city, adding that many large funds have already hit their ideal headcounts. ![]()
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