Asia Hedge Fund Managers

Hedge Fund Managers Focused in Asia Do Well

Hedge funds in Asia made the biggest returns in nearly a decade in the second quarter of 2009, riding a recovery in the Asian markets. Here are some key trends in the last quarter for hedge funds in Asia:

• Hedge fund managers trading in Asian markets (except Japan) spiked 18.86% in Q2, the strongest since 1999.

• An index tracking China focused hedge funds jumped 19.82% in Q2, up 35.86% in the first half of 2009.

• Asian Hedge fund Everest Capital, a $1.7 billion firm led by Marko Dimitrijevic, returned more than 13% last month, up 66% so far this year.
  

Hedge funds seem to be riding the recovery of the Asian stock markets. The markets have rebounded impressively in 2009 after taking heavy losses last year. China's government stimulus plan and a boom in lending by China's banks explain the new economic growth. Everest Capital's China Opportunity Fund (AUM $350 million) was up by more than 9% in July making its total gains 52% this year.

"The strong rebound of China's economy is supported by its fiscal spending and rapid credit expansion," Everest Capital said in a recent investor update.

After record redemptions from hedge funds last year, investors have begun returning to the industry in recent months, encouraged by a rebound in performance. Net flows of investor money into hedge funds resumed in May and June, according to HedgeFund dot net, which tracks assets and performance in the industry.

"Emerging markets have produced some of the best performance in 2009 and have also seen the highest rates of investor allocations," HedgeFund dot net said Tuesday. However, optimism about a China-led economic recovery in Asia was knocked Monday after the Shanghai Composite slumped almost 6%. Indeed, Everest said in the firm's recent investor update that it's closely monitoring whether and how the Chinese government continues to support fiscal spending and credit expansion. Source

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Tags: hedge funds in Asia, hedge fund managers in Asia, hedge funds asia, asian hedge fund managers, hedge fund managers in Asia, China, Everest Capital