亚洲对冲基金25强排名首度出炉
 
 
2006年7月22日 星期六
 
亚洲对冲基金25强排名首度出炉
    Top 25 Asian funds hit $22.6bn
 
排名在前25位的亚洲基金目前管理着226亿美元资产，表明对冲基金业正日益转向亚洲新兴市场和日本市场。
 The top 25 Asia-based funds now manage $22.6bn in assets, signalling a growing shift in the hedge fund industry towards emerging Asian markets as well as Japan.
 
上述数字来自投资期刊公司Institutional Investor的“Alpha”杂志。这本杂志今天将首次刊登亚洲对冲基金25强排名。最大的亚洲基金是驻东京的Sparx资产管理公司(Sparx Asset Management)，在2005年末，该公司管理的资产为52亿美元。PMA Capital以21亿美元的资产位列第二——Sparx上个月收购了这家驻香港的公司。排名前五位的公司还有阿普尔比(Appleby)的ADM、Ward Ferry和Penta，这三家香港公司在2005年末的资产分别为14.4亿美元、14亿美元和9.25亿美元。
 The figures come from Institutional Investor’s Alpha, which will today release its inaugural ranking of the 25 largest hedge funds based in Asia. The largest Asian fund was Tokyo-based Sparx Asset Management, which had $5.2bn in assets at the end of 2005. PMA Capital ranked second with $2.1bn – Sparx acquired the Hong Kong-based firm last month. Rounding out the top five are Appleby’s ADM, Ward Ferry and Penta, three Hong Kong firms with $1.44bn, $1.40bn and $925m respectively, at the end of 2005.
 
与美国和欧洲市场相比，亚洲对冲基金市场的规模相形见绌。高盛(Goldman Sachs)和Bridgewater Associates管理的美国对冲基金都超过200亿美元。实际上，亚洲地区的对冲基金很少能跻身于业内知名基金之列。Sparx是惟一进入Institutional Investor百强公司榜的亚洲对冲基金。
 The size of the Asian hedge fund market pales in comparison with the US and European markets. The US-based hedge funds run by Goldman Sachs and Bridgewater Associates each manage more than $20bn. Indeed, few of the indigenous hedge funds are among the better-known players in the industry, with Sparx the only Asian hedge fund firm turning up on Institutional Investor’s list of the 100 largest firms.
 
然而，无论是美国还是欧洲的对冲基金市场都不能与亚洲对冲基金行业近年的迅速崛起相媲美。业内咨询公司Eurekahedge和GFIA表示，自2002年以来，亚洲对冲基金的数量已经增长了三倍，达到700多只，管理的资产也飙升近10倍，达到1200亿美元。
 However, neither the US nor European hedge fund markets can match the meteoric rise of the Asian industry in recent years. The number of Asian hedge funds has quadrupled to more than 700 since 2002 and the assets under management have soared nearly tenfold to $120bn, say industry consultants Eurekahedge and GFIA.
 
增长的部分原因在于投资者对新兴市场的热情。近年来，新兴市场表现非常强劲。2005年，摩根士丹利资本国际远东地区指数(MSCI Far East index)回报率为22.5%，而相比之下，标准普尔500指数(S&P 500)仅为4.9%，摩根士丹利资本国际欧洲指数(MSCI Europe index)为6.5%。
 The growth has been driven in part by investor enthusiasm for emerging markets, which has delivered robust performance in recent years. In 2005, the MSCI Far East index returned 22.5 per cent, compared with 4.9 per cent for the S&P 500 and 6.5 per cent for the MSCI Europe index.
 
近来的动荡令部分投资者不敢轻举妄动，但业内人士表示，这不会改变今后几年资本大量流入亚洲的趋势。
 The recent turmoil has unruffled some investors, but industry participants say it will not derail a huge reallocation of capital to Asia in coming years.