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Hong Kong hedgies need sales staff

Hong Kong's hedge fund industry is booming. And growth is fuelling funds' appetite for people to sell their wares.

Bryan Lim, Associate Director, Recruitment Intelligence Consultants in Hong Kong tells us that hedge fund marketers with five years' experience are getting US$125,000 to $150,000 with bonuses of 12 to 18 months.

"Quality candidates with relevant hedge fund experience are very limited in Asia - especially sales people with good contacts,' says Lim.

Recruiters tell us there has been a big increase in recruitment as offshore hedge funds move into town.

A recent survey by the Hong Kong Securities and Futures Commission (HKSFC) found the number of hedge fund companies has doubled to 118 in the past two years; 13 of the top 20 firms hail from the US, UK and Japan.

Tim Cohn, a Partner at Advanz Group in Hong Kong says "we are starting to see a big push from offshore funds trying to capture market share here."

Both Lim and Cohn agree most sales candidates are institutional sales people from traditional fund management companies and investment banks. Cohn notes others are coming from investment advisory firms and private banks.

"As there is a shortage of candidates in Asia, we are also beginning to see candidates coming from outside Asia, such as the UK and US," Lim adds.

The HKSFC survey noted assets under management in Hong Kong hedge funds have risen by 268% to US$33.5 billion over the past two years.

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