The Hong Kong Securities and Futures Commission's (SFC) first survey of hedge funds found that 20% of respondents had an annualised return of more than 20% over the survey period. Sixteen percent reported negative returns.
The survey chiefly collected data at the snapshot of March 31, 2006, but also collected data as of March 31, 2004 and 2005 for comparison and trend analysis.
Over the past two years, the number of hedge fund managers has more than doubled to 118 from 58, the survey showed. T