Saturday, December 04, 2004
Ivy Asset Management Tokyo Office Launch (HedgeWeek)
Ivy Asset Management tracks Asia growth with new Tokyo office
Ivy Asset Management, the USD14.5 billion FOHF giant, is opening an office in Tokyo to capitalise on the rapid growth of the Asian market.
Hedge fund assets in the region have been growing by almost 80% annually and are expected to exceed USD 60 billion by the end of the year. The global hedge fund industry runs about USD 1 trillion of assets. However, investors regard many of the 500 or so hedge fund managers specialising in Asia Pacific as mediocre.
Sean Simon, a managing director and head of global client development at Ivy, said: "The only way to find real out-performers is to have people on the ground."
Ivy has grown assets seven-fold since being bought by the Bank of New York four years ago.
EIM, the USD 9.5bn fund of hedge funds manager founded by Arpad Busson, already has a client relationship office in Tokyo. Busson said: "We are planning to extend our Asian research efforts. There are a growing number of good quality managers in the region."
Ivy Asset Management, the USD14.5 billion FOHF giant, is opening an office in Tokyo to capitalise on the rapid growth of the Asian market.
Hedge fund assets in the region have been growing by almost 80% annually and are expected to exceed USD 60 billion by the end of the year. The global hedge fund industry runs about USD 1 trillion of assets. However, investors regard many of the 500 or so hedge fund managers specialising in Asia Pacific as mediocre.
Sean Simon, a managing director and head of global client development at Ivy, said: "The only way to find real out-performers is to have people on the ground."
Ivy has grown assets seven-fold since being bought by the Bank of New York four years ago.
EIM, the USD 9.5bn fund of hedge funds manager founded by Arpad Busson, already has a client relationship office in Tokyo. Busson said: "We are planning to extend our Asian research efforts. There are a growing number of good quality managers in the region."
# posted by Tom @ 10:40 AM 
