In Institutional Investor's Alpha’s 2016 Asia Hedge Fund 25, our eleventh annual ranking of Asia’s biggest single-manager hedge fund firms, we provide each manager’s total capital for 2016 and 2015 as of April 1. Where possible we also show capital at the individual fund level, with net 2015 and first-quarter 2016 returns, as well as fund inception dates. Asset totals reflect a firm’s internally run single-manager funds and separate accounts, including actively managed long-only hedge funds. Totals exclude funds of funds, funds managed by third parties, dynamic money market funds, private equity and venture capital. Assets in managed-futures accounts are stated as actual (cash) rather than nominal (trading level) values, unless otherwise noted. Assets run anywhere in the world are included, as long as the firm is wholly owned by a parent company that is headquartered in Asia. We gathered data through questionnaires completed by hedge fund managers, supplemented by II staff research. In some cases asset totals or returns represent our estimates. Senior Editor Jane B. Kenney compiled the ranking with the assistance of Hong Kong–based Researcher Serina To. To request a questionnaire for next year’s Asia Hedge Fund 25 ranking, please e-mail your contact details to