Benedicte Gravrand, Opalesque Geneva: Orchid Asia Group is reopening its China alternative investment offering to external investors, according to an email seen by Opalesque. The Orchid China Master Fund ($), which has a track record of 10 years and manages $265m, had up until May annualised 12.8% since inception, with a YTD return of 14.3% - compared to the Hang Seng index' 1.8%. In May, the fund was up 9%, during "a relatively calm month for Chinese equities."