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Opalesque Exclusive: Austria`s Erste Bank launches Asia focused hedge FoF This month Erste Bank Alternative Investments further added to its MAX suite of emerging markets funds of hedge funds, with the launch of MAX Asia. A carve out of the global MAX Emerging Markets Alpha Fund, MAX Asia gives investors the opportunity to gain Asia dedicated exposure in a diversified, multiple asset class portfolio. MAX Asia joins MAX Central and Eastern Europe Alpha (MAX CEE) which was launched in March 2007 and focuses on Erste Bank's home market of Central and Eastern Europe. Initially seeded with $35 million, the MAX Asia, run by Guy Wengraf, seeks to capture significant upside with much lower than market volatility (5-8%).

The Vienna-based group run by Christoph Kampitsch, with Mark Cachia as the Head of Portfolio Management, manages $1.8bn invested in Hedge funds, across a range of 11 products. Corporate website: http://hedgefunds.erstebank.com/

Tufton`s Oceanic launches hybrid hedge/private equity offering From Finalternatives.com: U.K.-based Tufton Oceanic Finance Group is adding a new twist to its product line. The firm this month launched the Oceanic Small Cap Fund, a Cayman Islands-based hybrid hedge/private equity offering, and took in $55 million in assets. The fund will hold a second and final close in July, with a target of $200 million.

“Our other two funds are typical hedge fu......................

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