Prop traders switching to Hong Kong hedge funds boost industry

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Proprietary traders moving from banks to hedge funds in Hong Kong, alongside international hedge funds setting up offices in Asia, has helped the industry rebound following a sharp contraction seen in the aftermath of the bankruptcy of Lehman Brothers in 2008, according to market participants. The Securities and Futures Commission's (SFC) annual Hong Kong hedge fund survey released earlier this month shows assets under management (AUM) are also increasing. By September 2010, hedge funds asset