Asian Hedge Funds
Asian Hedge Fund Managers Hurt
Here is a short article excerpt I found on Asian-based hedge fund managers and how they lost more assets in 2008 than the rest of the industry. This is somewhat expected since they had a steep ramping up period before this crash. Connected to this I saw some statistics within the WSJ this morning about GDP growth in emerging countries. The article was talking about how these economies were seeing slower growth this year, the truth is that they are strong compared to ours. Here is the excerpt:
Asian hedge-fund assets fell 36 percent in 2008, shrinking more than the global average, as the biggest market declines since the Great Depression prompted performance losses and investor redemptions, according to Hedge Fund Research Inc.
Assets peaked at $111 billion at the end of 2007 for hedge funds invested in Asia and stood at $71 billion in the fourth quarter last year, according to the Chicago-based industry researcher. The global hedge-fund industry peaked at $1.9 trillion in mid-2008.
The hedge-fund industry worldwide shrank by more than 20 percent to $1.5 trillion at the end of last year, and averaged losses of about 19 percent, as measured by the HFRX Global Hedge Fund Index. The MSCI World Index, which tracks stocks in developed nations, tumbled a record 42 percent in 2008. source