Clarifying Hong Kong's hedge fund success

In our previous story, the SFC touted Hong Kong''s success in attracting hedge funds, but the reality may be different.

FinanceAsia.com published a story this week, SFC outlines five funds priorities, in which an executive director at the Hong Kong Securities and Futures Commission, Alexa Lam, boasted of the territory's success in attracting hedge fund start-ups. Feedback from readers suggests that the picture is not so rosy.

Part of the reason for the discrepancy between Lam's cited figures and the reality is our fault. Lam was quoted while speaking at a local conference hosted by the Investment Company Institute, the American funds industry lobby. We reported, Although the SFC authorized only five hedge funds in 2004, for a total of 13 funds managing $1.13 billion, Hong Kong also captured...

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