Singapore Hedge Fund

Alternative asset management in Singapore

Singapore faces rising structural unemployment

Singapore faces the spectre of rising long-term structural unemployment as the economy recovers from the global financial crisis. Structural unemployment occurs when the skills of workers do not meet the needs of employers.

With certain sectors such as manufacturing and electronics lagging behind, Singapore workers will have to be retrained to be employable in new industries such as the gambling industry.

The government’s timely interventions in the form of job credit scheme has helped to keep retrenchments and unemployments to a minimum and lessen the impact of the recession.

However, some workers may find their life-long skills and expertise redundant in a different economic climate blighted by the relentless influx of cheap, foreign labor.

Latest data showed that the number of people unemployed for more than 25 weeks is rising. Official estimates put the rate of long-term unemployment among residents in Singapore at 0.8 per cent as of March this year, up from 0.4 per cent last year.

With no retrenchment benefits or minimum wage to safeguard the interest of workers, they will have to constantly upgrade themselves to stay irrelevant in Singapore’s competitive labor market.

The blue-collar workers will be hardest hit as their jobs, which are labor-intensive in nature can easily be taken up by foreigners willing to work for longer hours at lower pay.

Foreign workers make up almost a third of the population and their increasing numbers have led to concerns and angst among the locals.

Despite the prevailing sentiments on the ground that there are too many foreigners living and working on the island, the government shows no signs of reneging on its pro-foreigner policy to cut back on the numbers.

Foreigners drive up the prices of HDB flats which hit a peak lately. Still, the government insists that HDB flats remain “affordable” as Singaporeans use less than 30 per cent of their monthly pay to finance the mortage loan.

In view of the uncertainty ahead, Singaporeans should think twice before committing themselves to a long-term financial liability. Nobody is guaranteed a job for life in Singapore and one can find himself replaced by a foreigner the next day suddenly without prior warning.

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Recruiting Quant interns in Singapore

We are looking for Quant Interns to come to Singapore. We provide R/T ticket – accomodation and living allowance for 12 month and the possibility of joining the team after that. This is for a joint venture between a singaporean university and a North American hedge fund to research Risk Analysis in derivative portfolios.

you can apply at HR@singaporehedgefund.com

Filed under: general,

Green shoots for Hedge Fund Jobs

From our good friends at FHN…It is far from the go-go years of 2006 and 2007 for those looking for jobs with alternative investment firms. Yet, rays of silver are starting to peak out from under the economic crunch clouds.

That’s what Robert Olman, founder and president of Alpha Search Advisory Partners is beginning to see.

Olman told HedgeFund.net that he is seeing more appetite among hedge fund firms, not only for hiring personnel, but also for acquisitions.

Distressed debt, global macro, high-frequency trading and emerging markets, are the top strategies for hiring and for acquisition, Olman said.

“That’s followed by very sector specific equity long-short, financials being top of the heap,” he said.

Alpha Search is highly specialized, placing only portfolio managers and senior analysts with a track record of generating trade ideas, as well as risk managers and marketers. Most of those placed by the firm have an average of 7 years or more experience, Olman said.

In those specializations, Olman said, “we are seeing the hedge fund managers now creating strategic plans for hiring. We’re getting offers coming in and acceptances.”

But the recession has wrought changes to the hiring process.

“Compensation is down 20% to 25% in terms of initial offers and targeted bonuses,” Olman said.

Alpha Search recently started up an advisory service for consolidating hedge fund firms as a natural outgrowth of its recruitment business.

“We have funds with $1 billion to $2 billion in assets under management, funds that are looking at acquiring $200 to $600 million AUM funds, basically single manager, single strategy funds, in strategies or asset classes they don’t cover,” Olman said.

“It’s a given now that size does matter,” he said. “The bulk of money coming in is going to larger funds, while smaller funds are competing for an ever-shrinking pool of capital.”

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