Bloomberg News reports that as global stocks, currencies, commodities and risky bonds were roiled in a renewed frenzy of selling in January, hedge funds including those from Quam Asset Management Ltd. and Greenwoods Asset Management Ltd. fell more than 10% last month, while one from Springs Capital fell more than 20%. As a group, Asia-focused hedge funds declined 3.1%, their worst start to a year since 2008, according to Singapore-based Eurekahedge Pte. About 81% of hedge funds actively reporting to the Asia Long-Short Equities category had negative returns last month, the data show.
'January was a bloodbath to the whole world', Chris Choy, chief investment officer for the Quam China Focus Segregated Portfolio, said in an e-mail. Unless one had a 'crystal ball', it was very difficult to avoid losses, said Choy, whose $126 million Quam China Focus fund fell 16.7%.
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