lately HF $ is flowing to HK. outside of Tudor vast majority of HF in Singapore are pure fundamentalists. anybody more trading oriented will be setting up in HK because of the China angle. do you run a cta out of HK?
i dont run a CTA, no. But I run a fund that runs algo strategies over a diverse set of asset classes.
i agree that sellside is moving out of tokyo to hk, but i also see buyside moving to both hk and sing. when you say running a CTA in Asia, what does that really mean? I mean there is no such thing as a CTA in asia right? The managed futures programs in japan are sold to the public and require expensive registrations as I see. Any small/private managed futures programs similar to CTA over here??
I agree, I think the US version of CTAs are non-existent here, at least in Japan. Anything that is marketed to the public in Japan is heavily regulated. But again, as earlier stated if you run a small fund which manages yours and your friends' funds then there is no regulatory filing needed. The point is always whom you solicit. If you are approached by others and they want to do a deal on a private equity basis then there is no need to register with regulatory bodies. This is not legally binding but just my opinion and I fared pretty safe with this so far.
Asian CTA market is on the rise. We are very well conected in Asia and Asian business has risen 200 % with regards to revenue from 2008. People have recognized that stock markets are no one way street and that there are chances in rising as well as in falling markets, isn´t it ? Our program trades through three different time zones, 24 hours, 6 days a week, 70 derivatives markets. Asia is the place to be.
I am not sure Asians have just found out Equity markets are no one-way street. If you look at the Nikkei back to 1984 you notice something funny in regards to current levels. Maybe that tells the whole story of how equity markets can fool long-term holders. By the way rice futures have already traded in Japan when we were still lying drunk in caves and hunted elks, or so...;-)
agree with you overall but I still would asset that Japan poses a stark exception from the rest of Asia. Investors are incredibly uneducated about most financial products even in 2009 and I dont see any departure from this. So a rise by double or triple digit percentages is not surprising considering which base it comes from.