Colonial Mutual Funds has again teamed up with Newport Pacific Management to offer mutual funds for investing in Asian stock markets. Colonial will distribute and Newport will manage two new funds - Colonial Newport Tiger Cub Fund and Colonial Newport Japan Fund. The first joint effort between the firms, Colonial Newport Tiger Fund, has attracted $1.4 billion in assets. Like the Tiger fund, the new funds will employ a long-term, low-turnover strategy. While the Japan fund will buy well-established companies, Tiger Cub will invest in small-cap growth equities across Hong Kong, China, Singapore, Malaysia, Thailand, Indonesia, the Philippines, South Korea and Taiwan. Both firms are subsidiaries of Liberty Financial.