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Tim Culpan

Meet Asia's Biggest Hedge Fund. (It Also Makes iPhones.)

Having Apple as a client didn't help much last year.
Photographer: Thomas Lee/Bloomberg

In operation for more than 40 years, this outfit has grown to $106 billion in assets with investments in more than a dozen countries. Most of that is in China. 

Its returns probably wouldn't have you popping champagne -- 12.8 percent last year on a return-on-equity basis, 4.6 percent if you're looking at return on assets. But it has never posted a loss, so that's something. Its founder and chief executive officer is a 67-year-old billionaire while its CFO is a low-key long-termer affectionately known as Money Mama.

Oh, and it also makes iPhones for Apple Inc., PlayStations for Sony Corp. and routers for Cisco Systems Inc.