Aussies eyeing investments in Asian hedge funds

Australian hedge fund investors are eyeing managers in Asia as they seek to expand their regional reach in order to grow their business and diversify their portfolios. Ascalon Capital, the Sydney-based alternatives fund incubator, received a licence from the Hong Kong Securities and Futures Commission earlier this month. It has already invested in two hedge funds in Asia and is scouting out new partners, says Chuak Chan, who heads the Hong Kong operation. “We’re in the business …