Ramius, a US hedge fund with $11bn under management, is considering handing back its Hong Kong trading and advisory licences, in a sign that some funds are retreating from Asia.
The move comes amid increasing signs of a pullback from Asia by hedge funds amid a global industry slump which is forcing them to raise cash and cut operating costs ahead of an anticipated surge in redemptions. In Asia alone, outflows from hedge funds accelerated from $2.1bn in August to $4.3bn in September, says database, Eurekahedge.
