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Macquarie Bank’s Asian Alpha Fund “has quadrupled assets to more than $1 billion since the start of 2010, Reuters reports.At the beginning of last year the fund has $230 million AUM; now it has $1.03 billion.
The hedge fund is now part of an elite crew of hedge funds that have at least $1 billion AUM in the Asia region — there were only 29 firms with $1 billion in assets at the beginning of the year.
The fund, which is run by Nick Bird and Andrew Alexander, is a market-neutral long/short Asia focused fund.
It’s returned 5.8% in the first quarter according to an investor letter seen by Reuters, and has had an annualized return of 11.8%.
According to Reuters,
The fund has been seeing investment inflows, helped by Macquarie’s global marketing presence and liquidity track record during the financial crisis, when it honoured redemptions worth about $500 million in 32 days.