The fund management arm of Britain's Man Group Plc expects its assets under management in Asia to grow by at least 10 to 15 percent over the next 12 to 18 months, a senior executive said on Thursday. Asia is also likely to represent a growing share of total assets under management for the world's largest listed hedge fund company, said Tim Rainsford, managing director, Asia Pacific, at its Man Investments arm. "We certainly expect hedge fund growth in the region to increase by 10 to 15 percent over the next 12 to 18 months. And being an industry leader, we expect to be at least matching that or in excess of that," he told Reuters after a media briefing in Hong Kong.   more »

A US-based hedge fund has picked up a minority stake in the Bangalore-based real estate firm Century Real Estate Holdings, a division of the Bangalore-headquartered Century Group, investing close to $100 million (Rs 400 crore) in the company. Century Real Estate Holdings is to receive $35 million in the first tranche, while the balance is expected to come in over the next few months, sources said. Century Building director Ravindra Pai confirmed the that company has offloaded a part of its stake in the recently formed realty division, but refused to divulge details.   more »