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Coronavirus woes hits Asia-based hedge funds as investors stay away

Bloomberg
Bloomberg2/14/2020 09:35 AM GMT+08  • 5 min read
Coronavirus woes hits Asia-based hedge funds as investors stay away
(Feb 14): Asia-based hedge funds are bracing for a lean quarter of capital raising as the spread of the coronavirus leads to the postponement and cancellation of key events that have historically drawn Western investors to the region.
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(Feb 14): Asia-based hedge funds are bracing for a lean quarter of capital raising as the spread of the coronavirus leads to the postponement and cancellation of key events that have historically drawn Western investors to the region.

London-headquartered Albourne Partners, a consultancy that advises pensions, university endowments and foundations that invest a combined US$550 billion ($762 billion) in alternative investments, including hedge funds, said it’s seen at least 10 of its clients cancel trips to Asia in coming weeks, according to Asia head Richard Johnston.

Investors are scuppering visits as the number of new cases and deaths from the coronavirus outbreak in China surges. The US has restricted travel to China and raised the alert level for Hong Kong, the largest hedge fund hub in Asia.

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