Asia’s Hedge Funds Face Uncertainty
November 11, 2008, The Financial Times

The hedge fund industry in Asia is nervous as firms cut costs and conserve cash, and worries about redemptions proliferate throughout the region. More than half of Asia-based hedge funds are long-short, and recent restrictions on short-selling across Asia have made it exceptionally difficult for managers following the strategy.
 
In the first nine months this year approximately 87 Asian funds have closed.

Christopher Wells, a partner at White & Case in Tokyo, "expects lots of creative destruction in the alternative asset management industry."

"It's very unusual for a hedge fund to last more than five years – 99.5 per cent of hedge funds are small operations where everyone realises that today may be the last day," he says.