Tiger, tiger burning bright...

special report: asia

Asia has changed rapidly from an "interesting backwater of the global hedge fund industry" to a "critical source of new capacity and diversified opportunities," according to a recent report from Singapore fund of hedge funds group, GFIA.

The group noted the industry achieved "critical mass" in 2003 in terms of both size and number of managers, "and, in particular, the quality of start-ups."

a world apart?

While Asia's hedge fund industry "plays by the same rules as the rest of the global indust