In this paper, a novel asymmetric split-spoke-type (AS) variable flux memory (VFM) machine, featuring asymmetric permanent magnet (PM) configuration, is proposed. It enables a favourable trade-off between the flux regulation (FR) capacity for a wide constant power speed range (CPSR) and the magnetic field shifting (MFS) effect for torque improvement. The proposed AS-VFM machine, along with a symmetrical unite-spoke-type VFM machine and a symmetrical split-spoke-type VFM machine, is optimized using a genetic-algorithm-based dual magnetization state (MS) optimization method, with particular attention to the inverter current limits. The electromagnetic performances of the optimized designs for all three machines are investigated and compared, confirming that the proposed AS-VFM machine can achieve enhanced FR capacity and torque, as well as improved CPSR and overall efficiency.