Greece – The first start-up independent Asian hedge fund to begin with more than $1bn is expected to launch in the coming weeks, people familiar with the situation said, signalling a watershed for the asset class in the region.

The launch underscores the growing confidence and ability of indigenous talent to raise significant amounts of money to compete against global firms, which have piled into the region in recent years.

The new fund, which has been registered as Abax, will be based in Hong Kong and fronted by Taiwan-born Chris Hsu, a former star fund manager at Citadel Investment, one of the world’s largest hedge fund groups.

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