Macquarie Bank’s Asian Alpha Fund’s assets under management (AUM) have increased to over $1 billion since the start of 2010, Reuters reports. The fund, launched in 2005, managed $230 million in January 2010 and at the end of December it managed $576 million. The Asian Alpha fund utilizes a market-neutral long/short strategy, featuring a quantitative screening process to sift through more than 5,000 stocks. The fund, co-managed by, Andrew Alexander, returned 5.8% in the first three months of 2011.

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