Since this $1 trillion industry's launch, generally attributed to the late 1940s, hedge funds have been historically designed as investment pools for high-net-worth individuals and various institutions. This was until regulators in Hong Kong and Singapore started approving hedge funds for common folks. As of today, Hong Kong has approved 13 hedge funds for retail investors, while Singapore has given the green light to four. By type, about a half them are the Funds of Funds.

Hong Kong Securities and Futures Commission is expected to codify and simplify the approval criteria for practicing retail, including omitting of the five-year experience prerequisite for hedge fund managers.

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