Singapore attracts first Asian fund of hedge fund

London-based KBC Alpha sets up an Asian office to keep track of the region''s expanding hedge fund industry.

KBC Alpha, a dedicated fund of hedge fund unit of Belgian bank KBC's alternative investment group, is setting up shop in Singapore.

The Asian fund of hedge fund specialist currently has $400 million under management, invested in three funds. A Japan fund of hedge fund, launched in 2002 holds half the assets, while the rest is split between an Asia fund and an Asia including Japan fund launched in 2003 and 2004 respectively. The funds...

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