City Financial unveils Asia fund

British fund management firm City Financial will today launch an Asian fund of hedge funds in a move designed to tap into the rapid development of the hedge fund industry in the region. The City Financial Asian Absolute Growth Fund, a fund of hedge funds primarily targeting institutional investors, is aimed at capitalising “on the strong maturation of the Asian hedge fund markets”, the company said. This year has seen hedge fund firms including Fortress Investment and Soros Fund Management line up launches in Singapore and Hong Kong.