The Eurekahedge Asian Hedge Fund database contains data on over 1,5701 funds, based partly on which, we estimate 1,204 operational hedge funds in the Asian hedge fund industry, managing assets to the tune of US$171 billion, as at the end of July 2008. The industry has grown at a robust pace over recent years both in terms of assets as well as number of funds – assets have increased by over three and a half times, while the number of funds has more-than-doubled since December 2003.