The Asian hedge fund industry is booming. Sixty funds were set up in Asia in this year's first nine months, according to Eurekahedge, a research provider, up from just 15 in the whole of last year. Hedge fund assets in the region have doubled in two years and account for 6.5% of the global business. And where hedge funds go, prime brokers follow.

Ryan Bacher, Asian head of global prime services sales at Deutsche Bank, said: "Due to the lack of liquidity and perceived transparency issues in some Asian markets, sophisticated hedge funds are broadening their investment mandates to cover asset classes including private equity, distressed/illiquid investment and structured deals. While China is a global growth driver, these plays tend to be focused in Taiwan, Korea and Japan."