George Soros’s Soros Fund Management is planning to plant its flag in Hong Kong, Bloomberg News reported, citing a person with knowledge of the matter.
The $25 billion hedge-fund firm founded by the billionaire investor may ship New York-based fund managers James Chang and Dai Jixin off to Hong Kong, where it plans to open a new office, the news service said.
The move comes as the hedge fund industry is enjoying a rebound and investors are looking to put money into Asia. The MSCI Asia Pacific Index rose 34 percent last year, after dropping 43 percent in 2008, Bloomberg News noted.
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