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Asia’s Small Hedge Funds Woo Millionaires Amid Cash Squeeze

Hedge funds with assets of less than $100 million in the Asia Pacific region are turning to millionaires and family offices for investments as institutions favor funds with more than that amount and proven track records.

E Fund Management Co., which in April started China’s first officially registered hedge fund, raised $100 million from the nation’s rich. Singapore-based Iridium Asset Management started trading last year with money from the founder’s family, while Regal Funds Management Pty Ltd.’s eight-month-old quantitative fund is aiming to tap family offices, which make up 40 percent of the Australian manager’s flagship market-neutral strategy.