North American institutions are now the major source of Asian hedge fund allocations, leading to a shift in the way fund managers present themselves to investors.
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Asian managers turn in a benchmark-beating 4% gain in January, refuelling hopes of attracting much-needed investor inflows to the sector. Event-driven funds fare best.
Making custodians liable for asset losses would raise costs sharply, lead to consolidation and alter the way the industry operates, agree summit participants.