Shiraz Poonevala, director of investments at Bangkok-based family office GP Group, which only invests its estimated $500 million of assets directly, say it’s also a matter of Asia’s richest families wanting more control of their assets.
“I look my boss in the eye every day, and I have to answer to him,” he said. “Maybe I don’t get super returns, but at the same time I don’t do super silly things because I have to see him every day. A hedge fund is like writing a check and then hoping for the best.”
This article was provided by Bloomberg News.