Less China, More India Make Singapore Hedge Funds Asia’s Best
- Singapore funds up 2% through July, Hong Kong funds down 2.3%
- India stocks rally this year as China, Japan markets slump
Commercial buildings stand illuminated at night in the central business district of Singapore, on Saturday April 9, 2016. Singapore edged past Hong Kong as the world's No. 3 financial center. The Southeast Asian city-state ranks behind London and New York on the Global Financial Centres Index, according to a survey by London-based research firm Z/Yen Group.
Photographer: Sam Kang LiSingapore-based hedge funds outperformed Asian rivals during the first seven months of the year thanks to a greater focus on India and global markets, according to data provider Eurekahedge Pte.
Funds headquartered in Singapore returned 2 percent through July, while Hong Kong-based funds declined an average 2.3 percent, Eurekahedge said in a report Tuesday. Funds based in Australia rose 1.9 percent, while Japan-based funds declined 2.5 percent, the report said.