Morgan Stanley is throwing an Asia-specific hedge fund ball. The Shanghai hosted gala is exclusive only to Morgan Stanley’s 7% of Oriental hedge fund prime brokerage clients.
Established veterans expanding existing funds need to entice clientele, so prime brokers such as Morgan Stanley have brought investors and hedge fund managers together under one roof. This Shanghai conference is in its second year. Morgan Stanley runs its US version “Breakers” conference for managers in Palm Beach Florida, plus an emerging managers conference, they also run an event in Europe.
In an interview with AsianInvestors, Ashutosh Sinha, managing partner and CEO of a new long/short Asian hedge fund, Amoeba Capital said regarding the benefits of attending, “If I get a 4-6% hit rate and each one allocates $10 million, that gets me to my initial $100 million target and I will be operating above my estimated $50 million break-even.”
These events can be expensive to hold, with prices running into the millions, so Morgan Stanley wants to encourage investors and hedge funds to make the long trip. For this event, organisers chose Shanghai as a city that represents a metaphor for what Asia has to offer, and as a place where investors and managers would like to visit.
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