Asia Ex-Japan Hedge Funds Returns
Asia Ex-Japan Hedge Funds Decline 2.4% in January 2010Asia hedge funds (excluding Japan) did exceptionally well in 2009 but performance fell in the first month of 2010. Last year Asia ex-Japan hedge funds gained more than 37%, but in January these hedge funds declined 2.42%. Uncertainty in the markets as well as heavy redemptions attributed to the losses.
Total Asia ex-Japan hedge fund assets declined by 1.4% to US$103.2 billion in January, according to Eurekahedge. Most of those declines--about US$900 million--were due to performance. Asia ex-Japan funds also lost around US$500 million through redemptions in January, which Eurekahedge attributed to profit-taking and investors' rebalancing of portfolios. January is traditionally the time when hedge funds allow investors to redeem their allocations.
By contrast, the Eurekahedge European, Japan and Eastern Europe & Russia hedge fund indexes showed gains in January. Looking at strategies, distressed debt hedge funds had average returns of 2.51% in January, the 10th straight month of positive returns.
Distressed debt funds gained an average of 44.01% over a 10-month period ended Jan. 31.
The Eurekahedge January data is based on 79.78% of funds that reported their January returns. Source
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