Appleton's Pan-Asian addition planned for 2003

Guernsey-based Appleton International Asset Management is planning to launch a pan-Asian fund of hedge funds at the start of 2003.

It will follow on from the October launch of its Kingfisher global fund of hedge funds, which focuses mainly on US long/short and sector strategies.

Both funds were set up partly for the sake of expanding the group's range and partly due to Appleton's plans to reshuffle private client hedge fund money and the perceived efficiency of doing this under a fund of funds u