Asian hedge funds eyeing global firms

[HONG KONG] Asia's large hedge funds are turning to companies outside the region to deliver better returns on the billions of dollars they have raised.

Azentus Capital Management, with about US$800 million in assets, generated more than a third of its 17 per cent return last year outside Asia, said a person with knowledge of the performance.

Tybourne Capital Management (HK) reported US$848.8 million worth of US-listed securities at the end of March and Myriad Asset Management disclosed US$476.9 million, according to their 13F filings with the US Securities and Exchange Commission.