The Asian hedge fund industry is thriving. Assets under management in the region's hedge funds now stand at some $140 billion, up from just under $20 billion in 2000, according to Singapore-based hedge fund data provider Eurekahedge. And the downturn in Asian equity markets in late February should not have unduly concerned investors in hedge funds. That's because - at least ostensibly - hedge fund returns are meant to be de-correlated from overall stock market performance.
The regional stock