Hedge funds had nowhere to hide in January

Hands Over Eyes

Hedge funds in Asia, which navigated turbulent markets to post gains in 2015, had nowhere to hide in January.

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%.

Hit the link below to access the complete Bloomberg News article:

Hedge Funds in Asia Had Nowhere to Hide in January ‘Bloodbath’

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