 Who is right about ASOS PLC LSE:ASC, retail mogul Mike Ashley or hedge funds both in the City and Stateside? Earlier this week, it was revealed that Ashley had increased his stake in the online fashion retailer, via Frasers Group PLC LSE:FRAS, to above 5 New Frasers chief executive Michael Murray, who also happens to be Ashleys son-in-law, said our investment in ASOS reflects the long-term strategic value we see in a partnership between ASOS and Frasers Group. 