HONG KONG, Feb 17 (Reuters) - News and developments in Asian funds industry in the last one week.

FEBRUARY 17

Danny Bao, the former head of Hong Kong and China property research at Deutsche Bank and Daiwa, has set up his own firm HJY Capital and plans to launch a hedge fund by the end of March. His China Property Cycle and Urbanisation Fund has commitments worth $20 million, Bao told Reuters, adding that he will bet mainly on China's property sector stocks and credit. Just before setting up his firm last year, Bao ran a family office for Shanghai-based property developer CJ Land.

Manuel Schlabbers, a former trader at Morgan Stanley and Credit Suisse, will launch a hedge fund on the SinoPac Asset Management platform on March 1, SinoPac Solutions CEO Steve Bernstein said. The Accudo Asian Value Arbitrage Fund will focus on small and mid-cap companies. It's launching with capital from SinoPac and others and is expected to raise $30 million by the end of 2014. The long-biased fund aims to beat the MSCI AC Asia ex-Japan Index by at least 5 percent annually.

Geoffery Lee, a former co-head of macro trading for Asia Pacific ex-Japan at Goldman Sachs, has joined Singapore-based hedge fund Dymon Asia Capital, according to data from Hong Kong market regulator Securities and Exchange Commission. Dymon runs one of Asia's biggest macro hedge fund with $2.6 billion in assets at the end of Dec 2013. The fund returned 5.2 percent last year, according to fund data obtained by Reuters.

FEBRUARY 14

Investors yanked almost $4.5 billion out of emerging bond and equity funds over the past week, with equity funds seeing their 16th straight week of outflows, banks said on Friday, citing data from EPFR Global.

The Japanese mutual funds market suffered an investment loss of $29 billion in January, the first fall in five months, but it posted solid net inflows with investments in equity funds reaching their largest amounts since August 2007.

FEBRUARY 13

Alternative energy investment firm Equis Funds Group plans to raise $500 million over the next year to fund solar energy projects in Japan where the use of renewable energy is expected to at least double over the next 15 years.

FEBRUARY 12

India's Piramal Enterprises Ltd PIRA.NS said it will join with Canada Pension Plan Investment Board (CPPIB) to set up a $500 million fund to finance residential property projects in India.

FEBRUARY 11

Kuala Lumpur-based Saturna Sdn Bhd, a subsidiary of U.S.-based Saturna Capital Corp, has launched a sharia-compliant wholesale equity fund targeting institutional investors through an unusual low-fee structure.

One of the best stock pickers in America for the month of January was a 56-year-old Taiwanese immigrant working out of a small office in suburban New Jersey, 25 miles from Wall Street.

FEBRUARY 10

Former Goldman Sachs co-head of macro trading for Asia Pacific ex-Japan, Leland Lim, is planning to launch a hedge fund with Allan Bedwick, the former head of macro trading in Asia for Noble Group, a source with knowledge of the matter said.

Since the beginning of the year, emerging markets have been like cats on a hot tin roof. Hot money is skittering out of foreign markets as countries from Argentina to Turkey have been clawed by economic and political turmoil. But even with heightened concerns about the prospects of developing countries, emerging markets should still be a part of your larger portfolio.