Hedge funds in no rush to set up in China

The world’s biggest hedge fund manager may have set up a wholly foreign-owned entity in Shanghai, but that is unlikely to spark a wave of sudden moves among Bridgewater Associates' peers, argues an industry veteran. Eventually more players will set up in China, but they are not keen to do so in the short term because of domestic capital controls and regulation, says David Walter, Asia head of research at fund-of-hedge-funds firm Paamco. “I don’t see hedge funds waiting to set up…