THE recently launched Peregrine Premier Asian Growth Fund raised more than US$20 million in the initial period. Peregrine Asset Management managing director Bruce Seton said: 'We will be investing the funds as opportunities arise. 'The investment prospects in Korea are especially good.' The open-end mutual fund incorporated in the Cayman Islands is designed to allow Hong Kong investors to bank on the growth of Asian markets. It will invest in both solid established companies in Asia as well as newer and smaller companies.