20070410-hkg54.jpgEight percent plus annual economic growth in India might be one of the hottest investment stories in the world, but it does not overly impress Terence Khoo, managing director of hedge fund Qi Capital. Khoo told a Reuters Hedge Funds and Private Equity Summit that his favourite Asian investment destination was Taiwan, where political uncertainty had helped keep stocks cheap. Meanwhile, Khoo was shorting shares of Indian banks and auto makers, believing that stock investors had overbought, overlooking the country’s poor infrastructure, high inflation and rising interest rates. Qi’s Asian Macro Fund, which had $66.8 million in assets under management as of March 1, is about 90 percent invested in equities, with the remainder in currencies. Before setting up the fund, Khoo was a managing director at the investment office of Malaysian billionaire Robert Kuok, who was recently ranked by Forbes Magazine as the 104th richest person in the world.